Patel Engineering Limited H1 profit rises 15.94% to ₹177 crore

Patel Engineering Limited reported H1 FY27 net profit attributable to owners of ₹177 crore, up 15.94% year on year, while revenue from operations increased 2.03% to ₹2,491 crore for the half year ended September 30, 2026, according to its November 5, 2026 release.

How did PEL's H1 FY27 profit and revenue change?

PEL reported net profit attributable to owners of ₹177 crore in H1 FY27, compared with ₹152 crore in H1 FY26, an increase of ₹25 crore or 15.94%. Revenue from operations increased by ₹49 crore to ₹2,491 crore from ₹2,442 crore in the corresponding half of FY26, representing 2.03% growth. Reported profit growth was therefore higher than reported revenue growth across the two half-year periods.

The H1 FY27 figures cover the six months ended September 30, 2026, and PEL described them as unaudited consolidated financial results. The release did not provide H1 FY26 operating earnings before interest, tax, depreciation and amortisation, or EBITDA, for a direct comparison of operating earnings between the two half-year periods.

What did PEL report for Q2 FY27?

PEL reported Q2 FY27 revenue from operations of ₹1,211 crore and net profit of ₹83 crore. The company said quarterly net profit rose 7.64% from Q2 FY26, but did not disclose the prior-year quarter's revenue from operations or net profit amount in this release.

The Q2 FY27 revenue figure was part of the ₹2,491 crore reported for H1 FY27. Based on the disclosed half-year and Q2 revenue figures, revenue from operations for the other quarter in H1 FY27 was ₹1,280 crore. PEL did not separately state that quarter's revenue in the November 5 announcement.

PEL said the Q2 FY27 performance was supported by disciplined project execution and operational efficiencies. These are management explanations rather than separately quantified drivers, as the release does not break revenue, EBITDA or profit down by individual project, geography, customer or operating segment for the quarter ended September 30, 2026.

What were PEL's reported margins in H1 and Q2 FY27?

PEL reported operating EBITDA of ₹330 crore in H1 FY27, equal to an EBITDA margin of 13.24%, and a net profit margin of 7.09%. EBITDA means earnings before interest, tax, depreciation and amortisation. These measures were reported alongside revenue from operations of ₹2,491 crore and net profit attributable to owners of ₹177 crore for the half-year period.

For Q2 FY27, PEL reported operating EBITDA of ₹150 crore, an EBITDA margin of 12.42% and a net profit margin of 6.88%. The quarterly EBITDA margin was 0.82 percentage points below the H1 FY27 margin, while the quarterly net profit margin was 0.21 percentage points below the H1 figure. PEL did not provide Q2 FY26 or H1 FY26 margin figures in the release, so a year-on-year margin movement cannot be established from this announcement.

The H1 FY27 operating EBITDA of ₹330 crore was ₹180 crore above the ₹150 crore disclosed for Q2 FY27 because the former covers six months and the latter covers three months. PEL did not state finance costs, tax expense, depreciation or amortisation in the press release, so the announcement does not identify the components behind the difference between operating EBITDA and net profit.

What does PEL's order book show about its project base?

PEL reported an order book of ₹13,546 crore as of September 30, 2026. Management said the order book provides revenue visibility across key infrastructure sectors, although the announcement does not give a completion timetable, the share expected in FY27, individual order values or an order-book figure for an earlier period.

Managing Director Kavita Shirvaikar said the order book was diversified across hydropower, tunnelling, irrigation, transportation and urban infrastructure. PEL's stated capabilities also include dams, bridges, roads, piling works, industrial structures and other heavy civil engineering projects. The release identifies tunnelling and underground work in hydroelectric and transportation projects as areas of expertise.

Management said it intends to use its technical expertise to execute complex infrastructure projects and capitalise on emerging opportunities in the named sectors. That is a stated plan, not a revenue forecast: PEL gave no FY27 revenue, profit, EBITDA or order-intake target in the November 5, 2026 announcement. The ₹13,546 crore order book is therefore the principal forward-looking operating metric disclosed with the H1 FY27 results.

Conclusion

Taken together, the H1 FY27 and Q2 FY27 disclosures show profit growth exceeded revenue growth in the half year, while operating EBITDA margins were 13.24% for H1 FY27 and 12.42% for Q2 FY27. Net profit margins were 7.09% for the half year and 6.88% for the September quarter, based on PEL's reported consolidated figures.

The next disclosed operating item to watch is execution against the ₹13,546 crore order book recorded on September 30, 2026, particularly in hydropower, tunnelling, irrigation, transportation and urban infrastructure. Management identified disciplined project management, timely delivery and operational efficiency as its approach, but did not disclose an FY27 financial target or project-level delivery schedule in this release.