Latest news with #PEL
Time of India
26-05-2025
- Business
- Time of India
PTC India net profit jumps 4-fold to Rs 372 cr in Q4
Power trading solutions provider PTC India on Monday posted over fourfold jump in its consolidated net profit to Rs 371.87 crore in the March quarter compared to a year ago mainly due to exceptional gain of Rs 305.96 crore. The company had a consolidated net profit of Rs 91.11 crore in the quarter ended on March 31, 2024, a regulatory filing showed. However, the total income of the company in the quarter dipped to Rs 3,030.51 crore from Rs 3,510.02 crore in the same period a year ago. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Dubai villas | search ads Get Deals Undo The company got an exceptional gain of Rs 305.96 crore in the quarter from divesting its entire equity in its wholly-owned subsidiary, PTC Energy Ltd (PEL) to ONGC Green. The company received a total sales consideration of Rs 1,175.75 crore (net of costs to sell) and consequently recorded a profit of Rs 305.96 crore, as "Exceptional Items", in the consolidated financial results for the quarter and year ended March 31, 2025. In 2024-25, the company posted a net profit of Rs 976.24 crore as against Rs 533.16 crore in the previous financial year. Live Events Total income in the fiscal also dipped to Rs 16,277.22 crore from Rs 16,805.36 crore in the year ago. The board has recommended a final dividend at the rate of 67 per cent i.e. Rs 6.70 per share for the financial year ended 31st March 2025. According to a company statement, the trading volume for the FY 2024-25 is 82.75 BUs (billion units) vis a vis 74.84 BUs in FY 2023-24. The contribution of consulting income is Rs 50.35 crore for FY 2024-25. The core trading margin stood at 3.37 paise per unit. Manoj Kumar Jhawar, Chairman & Managing Director, PTC India, in the statement, said, "During the last quarter of FY 24-25, our trading income grew by 14 per cent to Rs 60.20 crore over the corresponding quarter of last quarter of FY 2023-24. Short-term volumes have contributed 66 per cent of the total volume for the quarter but an improved margin has helped in better realization of trading income." On our investment management efforts, the divestment of PEL to ONGC Green Ltd was completed during the quarter, and this has contributed Rs 457.39 crores to the PAT for the FY 2024-25, he added. The volume growth of 11 per cent of the FY 2024-25 has been driven by the short-term trades segment without any decline in the trading margin, he noted. PTC India, a Government of India initiative, is the pioneer in starting a power market in India. The company has maintained its leadership position in power trading since inception. PTC has also been mandated by the Government of India to trade electricity with Bhutan, Nepal and Bangladesh.
Business Standard
23-05-2025
- Business
- Business Standard
Patel Engineering JV bags project from Maharashtra Krishna Valley Development Corporation, Pune
Patel Engineering announced that Maharashtra Krishna Valley Development Corporation, Pune has awarded a contract valued at Rs. 958.33 crore to the company along with its JV partner, for the construction of Pipe Line Distribution Network for Nira Deoghar Right Bank Main Canal KM 87 to 135 and its Distributaries, Minor off taking between KM 65 to KM 135. PEL had earlier been declared L1 (lowest bidder) for this project. The project, scheduled for completion within a period of 36 months, is located in the state of Maharashtra, in Village Kalaj, Taluka Phaltan, District Satara. It will be executed through a Joint Venture, in which PEL's share is 20%. The scope of works includes construction of Pipe Distribution Network involving excavation & refilling for pipe trenches, structures providing, supplying, jointing, lowering, laying of pipes, various types of valves, chambers and outlets, testing Pipeline with all valves, outlets, etc. with an Operations, Repairs and Maintenance period for 5 years after completion of works.
Business Standard
23-05-2025
- Business
- Business Standard
Patel Engg bags Rs 958-cr pipeline project in Maharashtra
Patel Engineering (PEL), along with its joint venture (JV) partner, has secured a contract worth Rs 958.33 crore from the Maharashtra Krishna Valley Development Corporation (MKVDC), Pune. The project involves the construction of a pipe distribution network for the Nira Deoghar Right Bank Main Canal, from kilometer 87 to 135, including distributaries and minor canals between kilometers 65 and 135. The scope of work includes excavation and refilling of pipe trenches, construction of structures, supply, jointing, lowering, and laying of pipes, installation of various valves, chambers, and outlets. It also includes testing of the pipeline system along with a five-year Operations, Repairs, and Maintenance (O&M) period post-completion. The company was previously declared the L1 (lowest bidder) for this infrastructure project, which is scheduled for completion within 36 months. The work will be carried out in Village Kalaj, Taluka Phaltan, District Satara, Maharashtra. The project will be executed through a joint venture, in which Patel Engineering holds a 20% stake. Kavita Shirvaikar, managing director, Patel Engineering said, We are pleased to have been awarded this project by the Maharashtra Krishna Valley Development Corporation. This project represents a significant step forward in enhancing irrigation infrastructure in the region and will play a crucial role in improving agricultural productivity and water management efficiency. At Patel Engineering, we view this as more than just a construction projectit is a long-term investment in the prosperity of rural communities and the resilience of our agricultural ecosystem. Patel Engineering is a 76-year-old company, established in 1949, that has evolved into a leading construction firm specializing in the hydropower and irrigation sectors. The company is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other types of heavy civil engineering works. It has executed a wide range of infrastructure projects in technology-intensive areas such as hydropower, irrigation and water supply, urban infrastructure, and transportationparticularly in tunnels and underground works for hydroelectric and transportation projectsprimarily serving as a civil contractor. The counter shed 0.48% to Rs 41.73 on the BSE.
Business Standard
21-05-2025
- Business
- Business Standard
Patel Engineering bags hydro power project from NEEPCO worth Rs 711 crore
Patel Engineering (PEL) said that it has been awarded a contract for undertaking the construction of hydropower project valued at Rs 711.29 crore by North Eastern Electric Power Corporation (NEEPCO). As per the terms of the contract, the company would construct a 240 MW HEO hydropower project located in Arunachal Pradesh under EPC Mode. The scope of work includes construction of civil and associated infrastructure works, testing & commissioning of hydro-mechanical plant & machinery leading to successful operation and performance of all the generating units of the hydro electric project. PEL had earlier been declared L1 (lowest bidder) for this project. The said project is located in the Shi Yomi district of Arunachal Pradesh and is scheduled to be completed within 44 months. Kavita Shirvaikar, managing director, Patel Engineering, said: "We are proud to have been awarded the HEO Hydropower project from NEEPCO. This order further cements our position as a trusted partner for building critical infrastructure for Indias power sector and strengthens our position in the North-East. Arunachal Pradesh with its vast and largely untapped hydropower potential, is emerging as a key region in Indias renewable energy landscape." Patel Engineering is a construction company specializing in the hydropower and irrigation segments. It is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other kinds of heavy civil engineering works.
Time of India
21-05-2025
- Business
- Time of India
Patel Engineering awarded ₹711 cr hydro project in Arunachal by NEEPCO
New Delhi: Patel Engineering Ltd (PEL) has received a Letter of Acceptance (LoA) from North Eastern Electric Power Corporation Ltd ( NEEPCO ) for the construction of the 240 MW HEO hydroelectric project in Arunachal Pradesh at a contract value of ₹711.29 crore. The project, located in Shi Yomi district of Arunachal Pradesh, will be executed under the Engineering, Procurement and Construction (EPC) mode with a completion timeline of 44 months. PEL was previously declared as the L1 (lowest) bidder for the project. The contract scope includes execution of civil and associated infrastructure works, supply, installation, testing and commissioning of hydro-mechanical plant and machinery, and ensuring successful operation and performance of all generating units of the HEO hydroelectric project. 'We are proud to have been awarded the HEO Hydropower project from NEEPCO. This order further cements our position as a trusted partner for building critical infrastructure for India's power sector and strengthens our position in the North-East. Arunachal Pradesh with its vast and largely untapped hydropower potential, is emerging as a key region in India's renewable energy landscape. As we embark on the execution of the HEO hydropower project, we bring with us decades of experience, a proven track record in complex hydropower works, and a deep sense of responsibility towards environmental stewardship and community engagement,' said Kavita Shirvaikar, Managing Director, Patel Engineering Ltd. Established in 1949, Patel Engineering Ltd operates in hydropower, tunnelling and irrigation segments and has executed more than 85 dams, 40 hydroelectric projects, and over 300 km of tunnelling in India and abroad.
