Patel Engineering Gets Rs 958.33 Crore Joint Venture Project

Mumbai, May 26, 2025 – Patel Engineering Ltd (BSE: 531120), a stalwart in the infrastructure sector with a legacy spanning more than 70 years, has announced the receipt of a Letter of Acceptance (LOA) from the Maharashtra Krishna Valley Development Corporation (MKVDC) for an extensive irrigation project valued at ₹958.33 crore. Patel Engineering’s stake in this joint venture amounts to ₹191.67 crore.

Project Scope and Execution Timeline

The project aims to construct a Pipeline Distribution Network for the Nira Deoghar Right Bank Main Canal. This stretch runs from Km 87 to Km 135 and includes the development of distributaries and minor canals from Km 65 to Km 135. The work will be carried out in Village Kalaj, Taluka Phaltan, in the Satara district of Maharashtra.

The execution period for this large-scale infrastructure effort is set at 36 months. In addition, the scope includes a five-year period for operations, repair, and ongoing maintenance, ensuring long-term functionality and service delivery.

Major components of the project include:

• Excavation and backfilling of pipeline trenches
• Installation and joining of pipeline systems
• Provision and setup of valves, chambers, and water outlets
• Comprehensive testing of the pipeline network and all integrated fittings

As a 20% stakeholder in the joint venture, Patel Engineering’s contractual share in this ambitious project is valued at ₹191.67 crore.

Leadership Perspective

Commenting on the development, Kavita Shirvaikar, Managing Director of Patel Engineering, highlighted the strategic and social importance of the initiative:

“We are honoured to be selected by the Maharashtra Krishna Valley Development Corporation for this critical irrigation project. Beyond the construction mandate, this project stands as a vital contributor to the region’s agricultural strength. It will enhance irrigation capabilities and improve water resource management. At Patel Engineering, we believe infrastructure is not just about concrete and steel—it’s about creating sustainable impact for rural communities and fostering agricultural resilience.”

About Patel Engineering Ltd

Established in 1949 and headquartered in Mumbai, Patel Engineering Ltd is one of India’s most seasoned engineering firms. The company has built a reputation for delivering complex and socially relevant infrastructure projects, particularly in hydropower, tunnelling, and irrigation sectors.

Over the decades, the company has successfully executed:

• More than 85 dam projects
• 40 hydroelectric power projects
• Over 300 kilometres of tunnel construction for both central public sector undertakings and various state agencies

With a rich history of excellence in both domestic and international markets, Patel Engineering remains a name synonymous with reliability, engineering innovation, and public infrastructure development.

 Disclaimer: This content is only for informational purpose. It does not make any recommendation to act or invest. Please read the offer documents carefully before investing. Investments are subject to market risks and other risks. There is no guarantee of the actual returns that will be given.

REF: https://www.bseindia.com/xml-data/corpfiling/AttachLive/1e66d533-99d1-4adf-aa9a-98f333c579e6.pdf