Gensol Engineering rises after bagging contract worth Rs 967.98 crore in Gujarat

Gensol Engineering added 3.43% to Rs 738 after the company said that it has been awarded a contract by a renowned public sector undertaking for the development of a 245 MW Solar PV Project at the prestigious Khavda RE Power Park in Gujarat.

This contract, valued at approximately Rs 967.98 crore, includes three years of comprehensive O&M services.

This marks Gensol's second major project win at the Khavda Solar Park within a short span.

Earlier this month, the company secured an EPC contract worth Rs 1,062.97 crore for a 275 MW Solar PV Project part of the larger 795 MW Solar PV Development Package at the same location.

With these two significant projects, Gensol will now be responsible for the cumulative development of 520 MW of Solar PV capacity at the Khavda Solar Park.

Shilpa Urhekar, chief executive officer, Solar EPC (India) in Gensol Engineering, stated: We are deeply honored to have signed the contract with a leading public sector undertaking for this prestigious project.

Securing two major projects at Khavda within a short timeframe reflects the trust and confidence placed in Gensol's engineering expertise, and firm commitment to customer satisfaction."

Gensol Engineering offers end-to-end EPC and solar advisory services. The company is engaged in providing technical due diligence, detailed engineering, quality control, construction supervision, and other consulting services for solar projects across many countries, including India.

The company's consolidated net profit surged 60.5% to Rs 29.38 crore in Q2 FY25 as against Rs 18.30 crore posted in Q2 FY24. Revenue rose 13.8% YoY to Rs 346.49 crore in Q2 FY25 over Q2 FY24.

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