DEE Development Engineers successfully completed a ₹300-crore preferential allotment on Thursday, according to reports from The Hindu BusinessLine and CNBC TV18. The preferential allotment involved the issuance of 59.76 lakh equity shares at ₹502 per share to a diversified group of institutional investors, alternative investment funds and strategic investors. The capital infusion is designed to further strengthen the company's balance sheet and provide additional financial flexibility to support its long-term growth strategy.
The preferential issue witnessed participation from a diversified set of domestic and global institutional investors, as reported by The Hindu BusinessLine and CNBC TV18. Key participants included funds managed by WhiteOak Capital, Kotak Mahindra Trustee Company, ValueQuest, and 360 ONE, along with other long-term investors. This broad-based investor participation demonstrates strong confidence in the company's growth prospects and business model.
As of June 30, 2026, DEE Development Engineers' order book stood at ₹2,428.20 crore, with cumulative order inflows for FY27 reaching ₹780.87 crore, providing healthy revenue visibility across its domestic and international operations, according to The Hindu BusinessLine and CNBC TV18. The order book remains diversified across verticals, with power contributing ₹1,219.03 crore, oil & gas ₹854.76 crore, and heavy fabrication ₹167.15 crore to the closing total. The company recorded order inflows of ₹99.02 crore against executed orders worth ₹104.72 crore, with formal purchase orders expected shortly for additional orders worth ₹12 crore where DEE Development Engineers is the lowest bidder (L1). The Pipings segment dominated the order book with ₹2,219.05 crore, while the Heavy Fabrication segment reported a closing balance of ₹167.15 crore.
During FY26, DEE Development Engineers reported strong operational and financial performance, as detailed in the company's latest financial results. The company achieved revenue of ₹1,142 crore, representing a 38% year-on-year increase, along with Operating EBITDA of ₹191 crore, up 54% year-on-year, and Profit After Tax of ₹77 crore, up 77% year-on-year, according to The Hindu BusinessLine. The company's Malwa Power plant is projected to generate revenue of around ₹47.71 crore for FY27, including contributions from a pellet unit.
The company continues to supply electricity to Punjab State Power Corporation Limited (PSPCL) at ₹7.47 per unit, following a stay order from the Punjab & Haryana High Court, amid an ongoing tariff revision appeal. DEE Development Engineers operates two biomass power plants in Punjab - the 8 MW Abohar Biomass Power Plant and the 6 MW Muktsar Biomass Power Plant. The Abohar plant, spread across roughly 205,681 sq m, runs under a 30-year power purchase agreement (PPA) with PSPCL that began on 5 February 2009. The Muktsar plant, operated by subsidiary MPPL and spread across roughly 141,830 sq m, functioned under a 20-year PPA with the Punjab State Electricity Board that began on 27 April 2005 and expired in April 2025, leading to ongoing tariff revisions. Both plants are authorised by PSPCL to connect and run in parallel with the state's power grid, keeping them integrated into Punjab's transmission network.
