Patel Engineering Share Price

In 1949, Patel Engineering Limited (PEL) got its feet wet in the business world. PEL is a modern and innovative Indian engineering firm that offers comprehensive civil engineering services for designing and building power plants. Construction of New Hydroelectric Power Plants Building for Commercial Use Complexes of Industry Underground Structures, Like Dams and Tunnels Subterranean Buildings Buildings Made of Steel and Concrete Bridges Builds flyovers and national highways in India and beyond for Marine Works. Company with ISO 9002: 2000 accreditation and access to globally recognized Licensors & Contractors; appropriate technical solutions partner for a broad range of services across several sectors. In 1993–1994, the business expanded into plastics manufacturing via its subsidiary ENPRO.

The firm began working with ENERGOPROJECT Yuguslavia on several collaborative projects in 1997 and 1998. ASI RCC Inc. paid $80,000 for 100% of the equity of a California business formed by PEL in 1999-2000 under the name and style of ASI Civil Constructors and with a fiscal year end of March 31. In 1999-2000, the company's capitalization was 16 times that of the market, and the credit rating agency Dun & Bradstreet gave it a 4A 3(best) rating. Regarding road and highway construction, PEL made a significant breakthrough. The firm attained ISO 9002 accreditation in 2001. In 2002, PEL incorporated a wholly owned subsidiary in the USA under the name Patel Engineering Inc to shield the parent company in India from any claims litigations that may arise in the executed projects abroad. This was after the company had won a contract to build India's first "Roller Compacted Concrete" dam for the Ghatghr Hydro Electric project. As of January 31st, 2005, a total of 5,418 km of the National Highway Development project has been completed.

Within PEL's 18 subsidiaries, two were formed as special purpose vehicles in 2006–07: Patel KNR Infrastructure Pvt Ltd and Patel Engineering Pvt Ltd. They won a contract in December 2007 for Rs 1188.5 m for the Water Resources Department of the Government of Maharashtra to complete double lake tapping and associated civil works at the Koyna Dam Foot Power House. The company bought a 51 percent stake in Michigan Engineers (Michigan), a Mumbai-based urban infrastructure company, and a 96 percent stake in Patel Energy, which signed a memorandum of understanding with the Gujarat Power Corporation Government of Gujarat to build a 1200 MW imported coal-based power project in Ghogha Bhavnagar, in 2007-08.

The business constructed the biggest RCC dam in Missouri, United States, in June of 2008, costing USD 280 million. Patel Engineering has set aside Rs 4 billion (about $600 million) for its growth strategy, money that will be spent over the next two years on new machinery and other equipment to bolster the company's position in export markets, particularly the United States and Africa. The firm has a subsidiary in the United States called ASI Contractor Inc., which is responsible for carrying out projects in the area. Do you want to know about Patel Engineering Shares? Click Here to know about today’s Patel Engineering Share Price.