Bajel Projects gains on securing 'ultra mega' orders in power transmission sector

Bajel Projects advanced 4.18% to Rs 159.50 after the company secured ultra-mega EPC orders for power transmission and substation projects across India.

As per the companys classification, the value of an ultra mega contract is Rs 400 crore and above.

The first order was awarded by Power Grid Corporation of India, on behalf of its special purpose vehicle (SPV) "Kurnool-IV Power Transmission," for the construction of a 765 kV double circuit (D/C) transmission line from Kurnool IV to Kurnool III PS in Andhra Pradesh. This project forms part of the Transmission System for Integration of Kurnool-IV REZ-Phase-I (for 4.5 GW). The project is expected to be completed within 23 months.

In addition, Bajel Projects secured two more orders from Inergy Infra, Pune. These projects pertain to the evacuation of power from a 550 MW solar-wind hybrid power plant at Beed, Maharashtra, and involve the construction of a 400 kV transmission system and a new 400 kV AIS substation. Both projects are scheduled to be completed within 12 months.

Rajesh Ganesh, MD and CEO of Bajel Projects, said, These wins, marking a strong start to the financial year, reinforce our commitment to executing impactful solutions for India's power sector. Both orders demonstrate Bajel Projects' expertise in executing complex power transmission projects, including the construction of high-voltage transmission lines and substations. The company's commitment to timely execution, quality, and safety is emphasized by these significant wins.

Bajel Projects (BPL) is a leading company in the business of power infrastructure, with a strong presence in the power transmission and power distribution sectors.

The companys net profit fell 56.55% to Rs 1.46 crore in Q3 FY25 as against Rs 3.36 crore posted in Q3 FY24. Revenue from operations stood at Rs 622.38 crore in the quarter ended 31 December 2024, up 126.25% from Rs 275.08 crore in the same quarter the previous fiscal year.

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