Patel Engineering Ltd shareholders have approved two key resolutions through a postal ballot process, with results declared on December 19, 2025. The company successfully secured shareholder consent for executive appointments and compensation enhancements.

Postal Ballot Results Overview

The voting process, conducted through remote e-voting from November 19 to December 18, 2025, saw strong shareholder participation. Mr. Vaibhav Dandawate of M/s Makarand M Joshi Co served as the scrutinizer for the postal ballot process.

Resolution 1: New Whole-Time Director Approved

Shareholders overwhelmingly approved the appointment of Mr. R.V.R. Kishore (DIN: 07402969) as Whole-Time Director with the designation "Whole-time Director- Operations". The resolution received strong support across all shareholder categories.

Key appointment details:

• Term: 3 years from September 22, 2025
• Annual remuneration: Up to ₹4.00 crore
• Additional perquisites: Up to ₹25.00 lakh
• Performance incentives: Up to ₹50.00 lakh per annum
• Experience: Over 35 years in infrastructure projects

Resolution 2: MD Salary Enhancement Approved

The second resolution to increase Managing Director Ms. Kavita Shirvaikar's (DIN: 07737376) salary limit from ₹4.00 crore to ₹4.50 crore per annum also received strong shareholder approval.

The enhanced salary structure will remain effective for Ms. Shirvaikar's remaining tenure until March 31, 2027.

Company Performance Context

These leadership decisions come as Patel Engineering continues to demonstrate solid financial performance:

The successful approval of both resolutions reflects strong shareholder confidence in the company's leadership strategy and compensation framework. These changes are expected to strengthen Patel Engineering's executive team as it continues to navigate opportunities in the infrastructure sector.

Patel Engineering Ltd has officially signed a Memorandum of Understanding (MOU) with the Government of Arunachal Pradesh for the restoration and development of the 144 MW Gongri Hydropower Project in West Kameng District. This strategic partnership represents a significant milestone in advancing clean energy infrastructure in India's Northeast region.

Project Specifications

The Gongri Hydroelectric Project, located near Dirang town on the Gongri river (a tributary of the Bichom river in the Kameng basin), was previously terminated but has now been revived under the Arunachal Pradesh Restoration of Terminated Large Hydropower Policy under Special Circumstances, 2025.

Comprehensive Project Scope

Under the MOU, Patel Engineering will undertake the complete lifecycle of the project, which includes preparing and validating the Detailed Project Report (DPR), designing and engineering the hydroelectric system, and procuring all necessary electro-mechanical equipment. The scope also covers construction of the dam, powerhouse, and associated civil structures, along with installation and commissioning of turbines and generators. Additionally, the project will involve developing transmission infrastructure for grid connectivity and ensuring efficient operation and maintenance post-commissioning.

Strategic Implementation Framework

The project will be implemented on a BOOT (Build-Own-Operate-Transfer) basis for a lease period of 40 years, after which ownership and operational control will be transferred to the Government of Arunachal Pradesh. This framework aligns with Arunachal Pradesh's vision for a "Decade of Hydropower," aimed at making the sector a key contributor to the state's economy.

Management Commentary

Commenting on the development, Managing Director Ms. Kavita Shirvaikar said: "We are proud to partner with the Government of Arunachal Pradesh in reviving the Gongri Hydroelectric Project. This collaboration underscores our commitment to renewable energy and sustainable development. The project will harness the immense hydro potential of the region while ensuring socio-economic benefits for local communities."

Company Background

Patel Engineering Ltd is a 76-year company established in 1949 with a strong presence in hydropower, tunneling and irrigation segments. The company has a consistent track record in execution of projects in both domestic and international arena, having completed over 85 dams, 40 hydroelectric projects and more than 300 km of tunneling for clients which are mostly central PSUs or state government organizations.