Comments
The International Energy Agency’s (IEA’s) prediction of a 26,000 MW rise in hydropower capacity by 2030, along with a three-fold increase in pumped storage hydro facilities, will create a favorable environment for Patel Engineering as the company receives 60 percent of its orders from the hydroelectric segment.
The global heavy and civil engineering construction market experienced a steady growth from $1840 billion in 2022 to $1936 billion in 2023, with a notable compound annual growth rate (CAGR) of 5.2 per cent.
In FY23 alone, the company witnessed a significant order book inflow of ₹7,743 crore, including one project where the company is L1 (lowest bidder).
Patel Engineering has established itself as a renowned player in the civil engineering construction sector. The company’s expertise lies in high-margin and technology-intensive areas such as hydro power, tunnelling, irrigation, water supply, urban infrastructure, and transport.
In FY23, Patel Engineering achieved remarkable financial performance, generating a consolidated revenue of ₹4,202 crore. The company also posted a strong net profit of ₹155 crore.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.