Kalpataru Projects International (KPIL) announced on September 28 that it has won a Letter of Award for building a gas pipeline project in the United Arab Emirates. The win was disclosed via regulatory filing to the BSE and NSE.

KPIL classified the order as "Major," meaning an estimated value above Rs 4,000 crore. The exact value, client, location and timeline were not disclosed. MD and CEO Manish Mohnot called it a testament to the company's technical expertise and global scalability in oil and gas.

Despite the announcement, KPIL shares fell 1.14% to Rs 1,375.30 at 9:55 am on the NSE, against a previous close of Rs 1,391.20. The stock opened at Rs 1,420 and touched an intraday high of Rs 1,424.80, with traded value of Rs 8.28 crore.

The company reported FY2026 revenues of Rs 27,143 crore, with more than 250 projects under execution across 30-plus countries. The win pushes FY27 cumulative order inflows past Rs 17,219 crore, against a full-year target of Rs 30,000 crore.

The UAE order extends KPIL's oil and gas book and keeps it on course toward the inflow target, though investors will want the missing details.