Patel Engineering Reports Q3 FY26 Profit at Rs 71 Cr, Signs Rs 1,700 Cr Hydropower MoA

Patel Engineering Limited announced its limited reviewed financial results for the quarter and nine months ended 31 December 2025, reporting steady growth in revenue and profitability. For Q3 FY26, consolidated revenue from operations stood at Rs 1,239 crore, up 2.81 percent year on year, while operating EBITDA was Rs 145 crore with a margin of 11.68 percent. Net profit for the quarter was Rs 71 crore, translating to a margin of 5.69 percent.

For the first nine months of FY26, consolidated revenue reached Rs 3,681 crore, growing 5.74 percent year on year. Operating EBITDA was Rs 469 crore with a margin of 12.73 percent, and net profit stood at Rs 223 crore with a margin of 6.06 percent.

The company also signed a Memorandum of Agreement with the Government of Arunachal Pradesh to develop the 144 MW Gongri Hydropower Project in West Kameng on a BOOT basis. The project is valued at about Rs 1,700 crore, with a lease period of 40 years and an estimated implementation timeline of around four years. Patel Engineering further completed a rights issue raising about Rs 400 crore, strengthening financial flexibility to support project execution and future growth.

Kavita Shirvaikar, MD, said, “The Q3 FY26 results reflect improving financial performance and our disciplined approach towards achieving top-line growth, while maintaining sustainable profitability. We have maintained steady progress across ongoing projects, reaffirming our reputation for exceptional execution. A key highlight of our execution capabilities was the recent successful TBM breakthrough at our CIDCO TWT-II project site—achieved more than four months ahead of schedule. This milestone not only set a new benchmark in efficiency but also established a National Record by completing 812 meters of tunneling in January 2026 alone. During the quarter, we secured projects related to excavation works which is a natural extension of the large-scale infrastructure works we undertake. We believe such projects provide additional diversification and open new avenues for our growth. Our well-diversified order book of Rs. 15,123 Cr at the end of the quarter continues to support topline visibility. Operational efficiency and disciplined project execution remain the key focus areas as we advanced work across multiple sites. With the government’s ongoing emphasis on infrastructure development and renewable energy, we believe the company is well placed to participate in emerging opportunities in a measured and responsible manner.”

Rahul Agrawal, CFO, said, “We reported a steady performance in Q3 FY26, supported by stable operations and our continued focus on disciplined execution. During the quarter, the company also raised ~ Rs. 400 Cr through a rights issue, reflecting the underlying strength of our fundamentals and the confidence of our stakeholders. This capital infusion strengthened our balance sheet and should support future strategic growth initiatives. We have also taken the next leap in our commitment to the development of hydropower and sustainable development, with our MoA with the Arunachal Pradesh Govt. for complete development of the 144 MW Gongri Hydroelectric Project. We remain committed to measured, sustainable growth while maintaining a balanced and responsible approach to value creation.”