Patel Engineering Limited has been declared the lowest bidder (L1) by Himachal Pradesh Power Corporation Limited for the construction of the Renukaji Dam Project (Package-1), valued at ₹910.08 crore including GST. According to reports from CNBC TV18 and The Economic Times, the project is located at Village Dadahu in the Renuka tehsil of Sirmaur district, Himachal Pradesh, and is to be executed within 30 months. The contract covers construction of three diversion tunnels with diameters of 9.5 metres and lengths ranging from 1,379 metres to 1,590 metres respectively, along with development of three inlet and outlet portals, construction of 6 kilometres of access roads, installation of hydro-mechanical gates, and instrumentation works. As per Team Angel One, the Renukaji Dam Project is a critical initiative aimed at enhancing water storage capacity, ensuring reliable water supply, and supporting hydropower generation.
Shares of Patel Engineering were trading at ₹28.05, up 2.97% as of February 23, 2026, at 2:48 PM on the NSE, as reported by Team Angel One. The stock gain reflects positive market sentiment following the announcement of the significant project win. The company clarified that the contract is from a domestic entity, is not a related party transaction, and that promoters have no interest in the awarding authority. The project win adds to the company's growing hydropower order book and reinforces its position in the infrastructure sector.
Commenting on the development, Managing Director Kavita Shirvaikar stated that being declared L1 for the Renukaji Dam project reinforces the company's capabilities in delivering large-scale infrastructure projects and strengthens its role in sustainable water management and hydropower development, according to CNBC TV18 and The Economic Times. The project not only strengthens the company's portfolio but also positions it to contribute meaningfully to sustainable water management and hydropower development. The project is critical for enhancing water storage capacity, ensuring a reliable water supply, and supporting hydropower generation.
Patel Engineering, established in 1949, has executed over 85 dams, 40 hydroelectric projects and more than 300 kilometres of tunnelling, as reported by CNBC TV18 and The Economic Times. This extensive track record positions the company well for large-scale infrastructure projects, particularly in the hydropower sector where it has significant experience and expertise. The company has a track record in executing hydropower, tunnelling and irrigation projects for central PSUs and state government organisations.
