Shares of DEE Development Engineers Ltd. rose nearly 4% in intraday trade on Wednesday, trading at ₹715 on the NSE at around 11:30 a.m., up more than 3% from its previous close of ₹691.6. According to reports from Essential Business Intelligence, the stock has gained more than 244% so far in 2026, significantly outperforming the benchmark Nifty 50 which has declined more than 7% over the same period. The stock has also advanced 6.6% over the past week, including Wednesday's gains.
The company plans to use most of its ₹300 crore fund raise to reduce debt while targeting growth in nuclear power and data centres. Chairman and Managing Director K L Bansal said the company will use about ₹225 crore from the fund raise to repay existing borrowings. As reported by Essential Business Intelligence, the remaining ₹75 crore has been set aside for general corporate purposes and may also be used for future capital expenditure. The management said the company intends to use the fresh capital primarily to repay debt, improve its financial position and pursue growth opportunities in new sectors. Lower debt will strengthen DEE Development Engineers' balance sheet, improve its credit profile and enhance its ability to bid for larger projects, the management said.
The company said a stronger balance sheet would support its expansion into the nuclear power and data centre sectors. Bansal said DEE Development Engineers is targeting a revenue compound annual growth rate of 10% to 20%, supported by better asset utilisation, higher return ratios and stronger cash generation. According to reports from Essential Business Intelligence, the company does not plan to raise additional debt over the next three years, with the management reaffirming its revenue growth targets and reiterating its commitment to debt reduction.
The company reported a consolidated order book of ₹2,428.2 crore as of June 30, 2026. During June, it secured fresh orders worth ₹99.02 crore and executed projects worth ₹104.72 crore. For FY27 so far, cumulative order inflows stood at ₹780.87 crore, while cumulative project execution reached ₹294.37 crore. The company also said it is the lowest bidder for additional orders worth about ₹12 crore, which have not yet been added to its order book, as reported by Essential Business Intelligence.
At the close of the previous session, the company had a market capitalisation of ₹4,980.03 crore and was trading at a price-to-earnings ratio of 62.08 times. According to Essential Business Intelligence, the company's strong performance in 2026 has been driven by its debt reduction strategy and expansion plans into new growth sectors. The management expects the debt repayment to strengthen DEE Development Engineers' balance sheet, improve its credit profile and enhance its ability to bid for larger projects in the nuclear power and data centre segments.
