Guwahati: North Eastern Electric Power Corporation Limited (NEEPCO) has declared Patel Engineering Limited (PEL), a prominent Mumbai-based infrastructure company, as the lowest bidder (L1) for the civil works of the 240 MW HEO Hydro Electric Project, in Arunachal Pradesh, valued at INR 718 crore.
The authorities expected that the 240 MW HEO Hydro Electric Project, located in the Shi Yomi district of Arunachal Pradesh, would generate 1,000 million units (MU) of clean energy annually upon completion.
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This substantial power generation will significantly enhance Arunachal Pradesh’s electricity availability and contribute to the stability of the national power grid.
The scope of the contract awarded to Patel Engineering encompasses comprehensive civil construction, the development of associated infrastructure, the installation of hydro-mechanical equipment, and the crucial testing and commissioning of all generating units.
According to the sources, Patel Engineering is expected to complete the project within 44 months, showcasing the company’s capability to efficiently execute large-scale infrastructure projects.
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Beyond the strategic importance of this project win, Patel Engineering also presents compelling valuation metrics for investors.
According to InvestingPro data, the fair value of Patel Engineering’s stock is estimated at INR 62.6 per share. This is notably higher than its current market price (CMP) of INR 44.6, suggesting a potential upside of approximately 40.5%.
As Patel Engineering strengthens its foothold in India’s hydropower landscape, the stock may offer both strategic promise and valuation comfort, two elements that investors rarely find in tandem.