Patel engineering Limited has officially notified stock exchanges regarding the completion of Ms. Sunanda Rajendran's tenure as Independent Director. The company informed both the Bombay Stock Exchange and National Stock Exchange of India about this corporate governance development on March 23, 2026.

Director Tenure Completion Details

Ms. Sunanda Rajendran, holding Director Identification Number (DIN) 00381885, completed her term as an Independent Director and consequently ceased to be a Director of the company effective from the close of business hours on March 23, 2026. The cessation occurred due to the natural completion of her tenure in the independent director role.

Regulatory Compliance and Disclosure

The company made this disclosure in compliance with Regulation 30 and 51 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The notification was made pursuant to Para A of Part A and Para A of Part B of Schedule III to the said regulations.

Corporate Communication

The formal communication was signed by Kavita Shirvaikar, Managing Director (DIN: 07737376), and submitted to both stock exchanges. The company provided comprehensive details as required under the SEBI circular HO/49/14/14(7)2025-CFD-POD2/1/3762/2026 dated January 30, 2026.

Company Information

Patel Engineering Limited maintains its registered office at Patel Estate Road, Jogeshwari (W), Mumbai – 400 102. The company trades on BSE with company code 531120 and on NSE under the symbol PATELENG.

Patel engineering Limited has secured a significant contract worth BTN/INR 230.70 crore (excluding taxes) for pre-construction works of Bhutan's largest hydroelectric project under the Public-Private Partnership model. The Letter of Award (LOA) was issued by Dorjilung Hydro Power Limited (DHPL), a joint venture between Druk Green Power Corporation Limited (DGPC), Bhutan and Tata Power Company Limited (TPCL), India, for the prestigious 1,125 MW Dorjilung Hydroelectric Power Project.

Project Overview and Strategic Significance

The Dorjilung Hydroelectric Power Project represents a landmark initiative in Bhutan's energy sector, designed to support the nation's domestic energy aspirations while enabling the export of surplus clean power to India. This strategic project aims to strengthen regional energy security and marks a significant milestone in Bhutan's renewable energy development.

Scope of Work Under Package I

Under Package I, Patel Engineering Limited will execute comprehensive civil and hydromechanical works for the Dorjilung Hydroelectric Power Project. The scope encompasses several critical infrastructure components that form the foundation of this major hydroelectric facility.

The civil works include:

• Construction of two diversion tunnels of 11.00 m diameter with lengths of 930 m and 821 m respectively
• An intermediate adit of 7 m finished diameter and 116 m length
• A highway road tunnel featuring D-shaped cross section measuring 11 m × 7.50 m and 500 m in length

The hydromechanical works comprise four sets of vertical lift fixed wheel gates, essential for the project's operational efficiency and water management systems.

Management Commentary

Commenting on this significant development, Ms. Kavita Shirvaikar, Managing Director of Patel Engineering Limited, expressed her enthusiasm about the project. She highlighted that hydropower represents a cornerstone of Bhutan's energy future and emphasized the company's commitment to delivering world-class engineering solutions. The Managing Director also noted that this project presents an opportunity to strengthen the long-term partnership with Bhutan in the renewable energy sector.

Ms. Shirvaikar further indicated that Patel Engineering is actively exploring additional opportunities in hydropower development in Bhutan and other neighboring countries, reaffirming the company's commitment to sustainable growth and regional collaboration.

Company Background and Expertise

Patel Engineering Limited, established in 1949, brings 76 years of experience to this prestigious project. The company has built a strong presence in hydropower, tunnelling, and irrigation segments with a consistent track record in executing projects both domestically and internationally.

The company's extensive portfolio and proven expertise in hydroelectric projects position it well to execute the complex requirements of the Dorjilung project. Most of PEL's clients are central PSUs or state government organizations, demonstrating the company's credibility in handling large-scale infrastructure projects.