Bajel Projects Secures ₹400 Crore Transmission Order from PowerGrid in MP

21 Jun 2025 , 10:42 PM

Bajel Projects Ltd. has landed a significant order from PowerGrid Corporation of India Ltd (PGCIL), through its special purpose vehicle MEL Power Transmission Ltd, for a power transmission project in Madhya Pradesh. The order falls under the company’s “Ultra-Mega” classification, which means the total value is at least ₹400 crore or more, including GST.

Under the contract, Bajel Projects Ltd will build a 400 kV double-circuit transmission line, stretching approximately 138 kilometers between Mahan and Rewa key zones for energy evacuation in the state.

The scope of work also includes expansion of the existing 400 kV Rewa substation, which is being upgraded to support electricity transmission from the Mahan Energen Limited power plant. This is an EPC (Engineering, Procurement, and Construction) project, and Bajel is expected to complete the entire assignment within a 29-month execution window from the award date.

While the order is a major operational win, investor sentiment remained muted. In the National Stock Exchange, shares of Bajel Projects Ltd closed at ₹202, which is a 0.31% dip on June 20, 2025. Bajel Projects Ltd shares have witnessed a 32% dip in the last year, 26% dip in the year-to-date, and 4.76% dip in the last month.

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