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Patel Engineering reports 151% profit surge in Q2 FY25

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Patel Engineering Limited announced a net profit increase of 151% year-over-year for Q2 FY25.  For the quarter ending September 30, 2024, the company reported a revenue increase of 14.98%, reaching Rs 11,743 million, driven by progress in hydropower, irrigation, and tunnelling projects. The operating EBITDA rose by 15.8% to Rs 1,622 million, while the net profit margin improved to 6.88%. The company’s order book stood at Rs 172,607 million, with Patel Engineering recently being declared…

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Patel Engineering emerges as L1 bidder for Teesta-VI Powerstation in Sikkim

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Patel Engineering (PEL) has emerged as the lowest bidder (L1) for a Rs 2.4 billion contract awarded by NHPC for the Teesta-VI Powerstation in Sikkim. The project involves modifying a diversion tunnel into a tunnel spillway arrangement, including civil and hydro-mechanical (H&M) works, and is expected to be completed in 18 months. The contract covers construction of a tunnel spillway, gate operation chamber, precast bridge, and energy dissipation arrangement, among other tasks. PEL, with a…