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Revenue
₹1,421 Cr
verified against source
Revenue YoY
0.18%
reported change
EBITDA
₹684 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Patel Engineering reported FY26 revenue of ₹5,102 crore (flat YoY) and PAT of ₹294 crore (+21% YoY), driven by disciplined execution and non-core asset monetization of ₹185 crore. EBITDA margin improved to 13.41%. The order book stands at ₹15,190 crore, with hydropower comprising 63%. Management guided for 10% revenue growth in FY27 and order inflows of ₹8,000 crore, supported by a strong pipeline of ₹20,000 crore identified and ₹40,000 crore upcoming. Key risks include competitive bidding pressure (lost a large project to a new player) and slow resolution of arbitration awards (₹700 crore tied up in courts).
Colored figures show movement against the previous available record.
Guidance to track
- Management expects revenue to grow by 10% in FY27, driven by strong order book and execution momentum from H2 onward.
- Targeting new order wins of around ₹8,000 crore in FY27, with ₹1,600 crore already L1.
- Expect to realize ₹150-200 crore from land sales and arbitration awards in FY27.
- Management aims to reduce promoter pledge by 15-20% in FY27, with updates expected next quarter.
Risks flagged
- Lost a large ₹16,000-17,000 crore project to a new player at a low price, indicating aggressive competition.
- ₹700 crore in arbitration awards are stuck in courts, with expected realization over 5-6 years, delaying cash flows.
- Promoter stake fell from 39% to 31.48% due to non-participation in rights issue, raising governance concerns.
- Interest cost includes ~₹70 crore for bank guarantees and LCs, keeping effective rates high despite debt reduction.
Key quotes
- We expect FY27 revenue to grow by 10%.
- We expect around 8,000 cr new order book during the year.
- The project achieved a record tunneling progress of 812 m in a single month during January 2026 setting a national benchmark across TBM tunneling execution.
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