Bajel Projects hits upper circuit on bagging orders worth Rs 451 cr

Bajel Projects was locked in upper circuit of 5% at Rs 191.45 after the company received contracts from Power Grid Corporation of India aggregating to Rs 450.61 crore.

The first order is received by companys project specific SPV, Vataman Transmission for 765kV new transmission line of 81km worth Rs 358.43 crore and it is to be completed in 21 months from the date of issuance of notification of award.

The scope of work includes supply of goods and services contract for transmission line package TL01 for Halvad‐Vataman 765 KV D/c line Part ‐I associated with transmission system for evacuation of additional 7 GW RE power from Khavda RE park under Phase‐III Part B through TBCB route.

The subsequent order is received by the company for 400 kV M/C transmission line on Monopoles & Lattice Towers worth Rs 92.18 crore and it is to be completed in 3 months from the date of issuance of notification of award.

This order entails supply of goods and services contract for transmission line package TL01B for balance works of removal of LILO of Bawana‐Mandola 400kV D/C line at Maharanibagh S/S and extension of above LILO section from Maharanibagh upto Narela S/S to form 2x400kV D/C Maharanibagh‐Narela Line under transmission system associated with evacuation of power from solar energy zones in Rajasthan (8.1GW) under Phase‐II Part G1.

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. BPL was formerly part of Bajaj Electricals Limited under the EPC segment.

The company had reported a standalone net profit of Rs 3.36 crore in Q3 FY24 as against a net loss of Rs 1.40 crore in Q3 FY23. Total revenue from operations surged 67.83% YoY to Rs 270.38 crore in Q3 FY24.

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