By BullScreen Editorial Team 
Shares of Patel Engineering Limited were in focus on Friday after the company secured a hydropower project order in Bhutan, supporting positive momentum in the stock.
The infrastructure player, with a market capitalisation of ₹2,479 crore, saw its shares rise around 3% intraday to ₹25.38, up from the previous close of ₹24.68, following the announcement.
The company received a Letter of Award from Dorjilung Hydro Power Limited (DHPL), a joint venture between Druk Green Power Corporation Limited and Tata Power Company Limited, for pre-construction works of the 1,125 MW Dorjilung Hydroelectric Power Project. The contract is valued at ₹230.7 crore (excluding taxes) and includes civil and hydromechanical works such as tunnels and gate installations. The execution period is 300 days, followed by a one-year defect liability period.
The project is part of Bhutan’s largest hydropower initiative under a public–private partnership model, aimed at boosting clean energy generation and exports to India.
Patel Engineering’s order book remains well diversified. Central Government and PSU projects account for 59.23% of the total order book with 16 projects worth ₹8,957 crore, while State Government projects contribute 34.34% across 33 projects valued at ₹5,192.9 crore. International and other clients make up a smaller share.
In terms of execution, a large portion of projects are at early stages, with ₹4,968.7 crore below 10% completion. Mid-stage projects between 50–70% account for ₹4,494.8 crore, while other segments are spread across different completion levels.
The strong order pipeline and new project wins are expected to improve execution visibility, even as profitability pressures persist in the near term.