Bajel Projects zooms after securing work order worth Rs 586 crore from Power Grid Corp

Bajel Projects surged 6.40% to Rs 285.20 after the company announced that it has secured a Rs 586.28 crore contract from Power Grid Corporation of India for the supply of goods and services.

The company has been awarded the transmission line package TL01 for the 765 kV D/C Beawar Mandsaur PS transmission line. The awarded project is a part of a larger government initiative which aims to set up a 'Transmission System for evacuation of power from Rajasthan REZ'.

The project has been awarded through the Tariff Based Competitive Bidding (TBCB) route.

Bajel Projects will have 23 months to complete the project from the award notification date.

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 under the EPC segment.

The company reported net profit of Rs 7.07 crore in Q4 FY24 as against net loss of Rs 0.78 crore posted in corresponding quarter last year. Revenue from operations stood at Rs 489.16 crore in the quarter ended 31 March 2024, up 147.34% from 197.77 crore in same quarter previous fiscal.

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