The company and its joint venture partners were earlier declared as the L1 (lowest) bidders for the said project.

Based in the Osmanabad district of Maharashtra, the contract involves investigation, design, construction, testing, commissioning of works comprising of civil and allied works under lift irrigation scheme 01 and scheme 02 of Krishna Marathwada Irrigation Project.

The company being 51% partner in a JV in scheme 01 project and 60% partner in a JV in scheme 02 project, its share in aggregate for these two projects is Rs. 451.28 crore. The project has to be completed within a period of 36 months.

Rupen Patel, chairman and managing director, Patel Engineering, said: "We are extremely happy for being awarded these projects which once completed would help in tackling the problem of drought in the Marathwada region.

The Government has been focusing and providing more impetus to the irrigation sector to improve agricultural productivity in the Country and we are improving our presence in this sector.”

Patel Engineering is a construction company specializing in the hydro power generation and irrigation segments. It is engaged in the construction of dams, bridges, tunnels, roads, piling works, industrial structures and other kinds of heavy civil engineering works and have executed a variety of infrastructure projects in the hydro power, irrigation and water supply, urban infrastructure and transportation segments primarily as civil contractors.

The company's consolidated net profit rose 13.5% to Rs 31.19 crore on 18.1% increase in net sales to Rs 1,036.98 crore in Q3 FY23 over Q3 FY22.