Patel Engineering sees Q2 revenue rise, targets debt reduction

Patel Engineering Limited achieved a consolidated revenue of ₹1,208 crores for Q2 FY26, marking a 3% year-on-year increase. Half-year revenue reached ₹2,442 crores, up 7% from the previous year. The company reported a net profit of ₹77 crores for the quarter and ₹152 crores for the half-year. Operating EBITDA for the quarter stood at ₹159 crores, representing a margin of 13.13%.

The company's total debt decreased by ₹60 crores from March 25 to ₹1,543 crores as of September 25. Patel Engineering successfully settled a US litigation for $5 million and completed the sale of a Chengalpattu land parcel, realizing approximately ₹135 crore, which will be used for debt reduction. The order book as of September 30, 2025, stands at ₹15,146 crores, with hydro projects accounting for 62%.

Looking ahead, Patel Engineering has submitted tenders worth around ₹34,000 crores and identified projects worth ₹18,000 crores in the pipeline. It anticipates a healthy order inflow of ₹8,000-₹10,000 crores in the next six months. The company aims for marginal growth around ₹5,000 crores for FY26 with margins between 13%-14%, and is exploring new sectors like underground metro and road infrastructure to diversify its order book.