Patel Engineering Ltd
NSE:PATELENG
Patel Engineering Ltd
Patel Engineering Ltd. engages in the provision of infrastructure and construction services. The company is headquartered in Mumbai, Maharashtra and currently employs 4,273 full-time employees. The company went IPO on 2005-02-24. The company is also involved in real estate activities with owned or leased property. Its power, dams and tunnel projects include Kiru HEP Project, Jammu and Kashmir (J&K), Ircon Tunnel T-15 in J&K, KRCL Tunnel T-2 in J&K, Ircon Tunnel, T-7 in West Bengal, Arun-3 HEP Project, Nepal, Kundah Package I & II, Tamil Nadu and Parnai H.E. Project, J&K. Its irrigation projects include Sleemanabad Carrier Canal, Madhya Pradesh, Jigaon Lift Irrigation, Maharashtra, Suthaliya Irrigation Project, Madhya Pradesh and Parbati Irrigation Project, Madhya Pradesh. Its urban infrastructure and roads include Katraj Kondwa Road Project, Maharashtra, Motihari Road Project, Bihar and RVNL Project, Chattisgarh. Its subsidiaries include Zeus Minerals Trading Pvt. Ltd., Friends Nirman Pvt. Ltd., and Patel Lands Ltd.
Patel Engineering Ltd. engages in the provision of infrastructure and construction services. The company is headquartered in Mumbai, Maharashtra and currently employs 4,273 full-time employees. The company went IPO on 2005-02-24. The company is also involved in real estate activities with owned or leased property. Its power, dams and tunnel projects include Kiru HEP Project, Jammu and Kashmir (J&K), Ircon Tunnel T-15 in J&K, KRCL Tunnel T-2 in J&K, Ircon Tunnel, T-7 in West Bengal, Arun-3 HEP Project, Nepal, Kundah Package I & II, Tamil Nadu and Parnai H.E. Project, J&K. Its irrigation projects include Sleemanabad Carrier Canal, Madhya Pradesh, Jigaon Lift Irrigation, Maharashtra, Suthaliya Irrigation Project, Madhya Pradesh and Parbati Irrigation Project, Madhya Pradesh. Its urban infrastructure and roads include Katraj Kondwa Road Project, Maharashtra, Motihari Road Project, Bihar and RVNL Project, Chattisgarh. Its subsidiaries include Zeus Minerals Trading Pvt. Ltd., Friends Nirman Pvt. Ltd., and Patel Lands Ltd.
Revenue Growth: Consolidated revenue for Q3 FY'26 was INR 1,239 crores, with 9-month revenue reaching INR 3,681 crores, up 5.7% from the previous year.
Order Book Strength: Order book stands at INR 15,123 crores as of December 2025, with over INR 12,000 crores in bids under evaluation and a pipeline of INR 50,000 crores for future bidding.
Margin Guidance: EBITDA margin moderated to around 11.7% for the quarter and 12.7% for nine months; management now guides for ~13% margins going forward, citing competitive pressures.
Debt Reduction: Total debt reduced to INR 1,433 crores from INR 1,603 crores at March 2025; finance costs have declined and net debt is expected to further decrease with proceeds from a right issue.
Order Inflows: Order inflow for 9 months was INR 3,200–3,500 crores, with the company maintaining a disciplined bidding approach and aiming for INR 8,000–10,000 crores in annual order inflows.
Profitability: Profit after tax for Q3 was INR 71 crores, with 9-month PAT at INR 223 crores, up about 6.5% year-over-year.
Strategic Monetization: Realized INR 185 crores from non-core asset monetization in 9 months, targeting similar levels next year to further reduce debt.
Growth Outlook: FY'26 revenue is expected to cross INR 5,000 crores with 10% revenue growth guided for FY'27; execution pace is expected to pick up from FY'28 as new projects ramp up.
