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Patel Engineering Shares Gained as JV Declared as Lowest Bidder for Irrigation

Patel Engineering has a 40% share in the Joint Venture.

Shares of Patel Engineering traded in the green on 15 September after the company’s Joint Venture (JV) was declared the lowest bidder for an irrigation project from Maharashtra Krishna Valley for Rs 202.30 crore.

Patel Engineering has a 40% share in the Joint Venture.

the company is said to earn Rs 80.92 crore from the said JV project in Maharashtra Krishna Valley.

The project has to be completed in a period of 30 months and involves building a construction pipeline distribution network for the Nira Deoghar Right Bank Main Canal from 77 Km to 87 Km.

The project is located in Kapadgaon village to Kalaj Taluka in, located in the Satara district of Maharashtra.

In September, the JV bagged another letter of award for an urban infrastructure development project for Rs 1,275.30 crore from Madhya Pradesh Jal Nigam.

In August, the JV secured a letter of award for the construction of civil works for the Dibang Multipurpose Project From NHPC Ltd.

At 12:10 pm, the shares of Patel Engineering were trading at Rs 55.40 or 4.92% above its previous close on NSE.

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