Multibagger stock Patel Engineering spikes 6% after Q3 numbers, up over 200% in 2 years
Shares of Patel Engineering, a leading infrastructure and construction company, surged 6% in intraday trade on February 13 to ₹48.51 apiece following the release of its December quarter performance. For Q3 FY25, Patel Engineering’s consolidated revenue from operations stood at ₹1,205.5 crore, up 13.62% year-on-year from ₹1,061 crore in Q3 FY24. As of December 31, 2024, Patel Engineering’s consolidated gross debt stood at ₹1,422.4 crore, down from ₹1,885.5 crore as of March 31, 2024, reflecting significant deleveraging efforts. The company currently holds 15 hydroelectric projects worth ₹10,428.3 crore, with key ventures including Subansiri HEP, Dibang Multipurpose Project, Kiru HEP, Arun-III HE Project, Shongtong HEP, and Kwar HEP, as per the company's Q3 earnings filing. The hydroelectric sector offers healthy opportunities, with approximately 18,000 MW of hydropower projects currently under execution in India, of which the company is involved in constructing nearly 8,000 MW, its Q3 report showed.
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