Patel Engineering Limited reported strong Q3 FY25 financial results, indicating resilience in hydropower, irrigation, and tunneling projects. Consolidated revenue increased 13.6% YoY to ₹12,055 million, while operating EBITDA grew 29.5% to ₹1,840 million. Net profit increased to ₹804 million, and consolidated gross debt decreased to ₹14,224 million.

Ms. Kavita Shirvaikar, MD, announced Q3 FY25 results showing a 13.62% increase in revenue and significant profitability gains. The company’s dedication to creating value for stakeholders and optimizing its project pipeline are highlighted. The company is excited about enhancing operational capabilities, expanding its project portfolio, and driving industry innovation.

CFO Rahul Agrawal announced a strong Q3 FY25 performance, with significant gains in revenue, EBITDA, and net profit. This success reflects strategic financial management and strong balance sheet, allowing for confident investment in future projects and long-term shareholder value.

Patel Engineering Ltd., a prominent infrastructure and construction services company, has announced its financial results for the third quarter of the fiscal year 2024-2025 (Q3 FY25), showcasing significant growth across key financial metrics.

Financial Highlights:

• Total Revenue: The company reported a total revenue of ₹1,061.00 crore in Q3 FY25, marking a 3.89% increase from ₹1,021.31 crore in the previous quarter (Q2 FY25) and a 2.32% rise from ₹1,036.98 crore in the same quarter of the previous year (Q3 FY24). livemint.com
• Operating Income: Operating income reached ₹155.88 crore, reflecting a substantial 34.53% growth from ₹115.87 crore in Q2 FY25 and a 17.19% increase from ₹133.02 crore in Q3 FY24. livemint.com
• Net Profit: The net profit for Q3 FY25 stood at ₹68.83 crore, an impressive 82.78% surge from ₹37.66 crore in the previous quarter and a 120.69% jump from ₹31.19 crore in the corresponding quarter of the previous year. livemint.com
• Earnings Per Share (EPS): The diluted normalized EPS was ₹0.48, a slight increase from ₹0.47 in Q2 FY25 but a decrease from ₹0.53 in Q3 FY24. livemint.com

Expense Analysis:

• Selling, General, and Administrative Expenses: These expenses decreased by 3.12% to ₹89.45 crore in Q3 FY25 from ₹92.33 crore in Q2 FY25 and by 1.18% from ₹90.52 crore in Q3 FY24. livemint.com
• Depreciation and Amortization: There was a 1.36% decrease to ₹23.12 crore from ₹23.44 crore in the previous quarter and a 3.47% decrease from ₹23.95 crore in the same quarter last year. livemint.com
• Other Operating Expenses: These expenses saw a significant increase of 92.06% to ₹71.12 crore from ₹37.03 crore in Q2 FY25 and a 37.88% rise from ₹51.58 crore in Q3 FY24. livemint.com

Operational Highlights:

The company’s robust performance is attributed to its strong project execution capabilities in sectors such as hydropower, irrigation, and tunneling. As of September 30, 2024, Patel Engineering’s order book stood at ₹17,260.7 crore, indicating a healthy pipeline of projects.

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In Q2 FY25, the company emerged as the lowest bidder for a ₹240 crore hydropower project at NHPC Ltd.’s Teesta-V Power Station in Sikkim, further strengthening its position in the hydropower sector.

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Management Commentary:

Ms. Kavita Shirvaikar, Managing Director of Patel Engineering, expressed satisfaction with the company’s performance, stating that the 14.98% revenue growth during the monsoon period reflects operational efficiency and a commitment to stakeholder value. She emphasized the company’s focus on building a strong foundation and strategic project execution to drive further growth in India’s infrastructure sector.

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Mr. Rahul Agrawal, Chief Financial Officer, highlighted notable gains in EBITDA and net profit, underscoring Patel Engineering’s disciplined financial management. He noted that with a robust balance sheet, the company is well-positioned for future investments in high-potential projects, committed to sustainable growth and long-term value creation for shareholders.

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Future Outlook:

Looking ahead, Patel Engineering plans to raise ₹400 crore through a Qualified Institutional Placement (QIP) to fund ongoing and future projects, reduce debt, and enhance working capital. This strategic move aims to strengthen the company’s financial position and support its growth objectives in the coming years.

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The company’s strong financial performance in Q3 FY25, coupled with its strategic initiatives, positions Patel Engineering for continued success in the infrastructure and construction sectors.

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Construction, Infrastructure and Mining   
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