Mumbai, February 14, 2026 – Patel Engineering Limited (NSE: PATELENG; BSE: 531120) reported steady financial performance for the quarter and nine months ended December 31, 2025, with consolidated net profit for 9M FY26 rising 6.51 percent year-on-year to ₹223 crore and revenue from operations increasing 5.74 percent to ₹3,681 crore.
The infrastructure and construction major also reported an order book of ₹15,123 crore as on December 31, 2025, alongside a ₹400 crore rights issue during the quarter to strengthen its balance sheet.
Q3 FY26 Financial Performance
For the quarter ended December 31, 2025, the company reported consolidated revenue from operations of ₹1,239 crore, up 2.81 percent compared to ₹1,206 crore in Q3 FY25.Operating EBITDA stood at ₹145 crore, translating into a margin of 11.68 percent. Consolidated net profit for the quarter came in at ₹71 crore, with a net margin of 5.69 percent.
Q3 FY26 vs Q3 FY25
| Particulars | Q3 FY26 | Q3 FY25 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | ₹1,239 Cr | ₹1,206 Cr | 2.81% |
| Operating EBITDA | ₹145 Cr | – | – |
| EBITDA Margin | 11.68% | – | – |
| Net Profit | ₹71 Cr | – | – |
| Net Margin | 5.69% | – | – |
9M FY26 Financial Snapshot
For the nine months ended December 31, 2025, consolidated revenue from operations stood at ₹3,681 crore, reflecting a 5.74 percent increase year-on-year.Operating EBITDA during 9M FY26 was ₹469 crore, with a margin of 12.73 percent. Net profit rose to ₹223 crore, up 6.51 percent YoY, with a margin of 6.06 percent.
9M FY26 vs 9M FY25
| Particulars | 9M FY26 | 9M FY25 | YoY Growth |
|---|---|---|---|
| Revenue from Operations | ₹3,681 Cr | – | 5.74% |
| Operating EBITDA | ₹469 Cr | – | – |
| EBITDA Margin | 12.73% | – | – |
| Net Profit | ₹223 Cr | – | 6.51% |
| Net Margin | 6.06% | – | – |
Strategic Developments and Corporate Actions
Order Book Strength
The company’s order book stood at ₹15,123 crore as of December 31, 2025, providing revenue visibility and supporting execution momentum across its infrastructure portfolio.Hydropower Expansion in Arunachal Pradesh
During the quarter, Patel Engineering signed a Memorandum of Agreement with the Government of Arunachal Pradesh for the development of the 144 MW Gongri Hydropower Project in West Kameng district.The project, valued at approximately ₹1,700 crore, will be executed on a BOOT basis with a 40-year lease and an estimated implementation timeline of around four years.
Rights Issue Strengthens Balance Sheet
The company successfully completed a rights issue, raising approximately ₹400 crore. The capital infusion is expected to enhance financial flexibility and support ongoing and future growth initiatives.Management Commentary
Kavita Shirvaikar, Managing Director, stated that Q3 FY26 reflected improving financial performance and a disciplined approach toward achieving top-line growth while maintaining sustainable profitability. She highlighted steady progress across ongoing projects and cited the successful TBM breakthrough at the CIDCO TWT-II project site, achieved more than four months ahead of schedule. The company completed 812 meters of tunneling in January 2026, setting a national benchmark.Rahul Agrawal, Chief Financial Officer, said the company reported steady performance backed by disciplined execution. He noted that the ₹400 crore rights issue strengthened the balance sheet and would support strategic growth initiatives. He also emphasized the company’s commitment to hydropower development following the MoA for the 144 MW Gongri Hydroelectric Project.
About Patel Engineering Limited
Incorporated in 1949, Patel Engineering Limited is a 76-year-old infrastructure and construction company specializing in hydropower and irrigation segments. The company undertakes construction of dams, bridges, tunnels, roads, piling works, industrial structures, and other heavy civil engineering projects.It has executed large-scale projects in hydropower, irrigation and water supply, urban infrastructure, and transportation, particularly in tunneling and underground works for hydroelectric and transport projects. The company is listed on both the National Stock Exchange of India and the Bombay Stock Exchange.
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