Bajel Projects zooms ~5% on bagging ultra-mega power project

23 Jun 2025 , 02:35 PM

Bajel Projects Limited informed the bourses and shareholders that it has bagged a major power transmission order from PowerGrid Corporation of India Limited (PGCIL).

The order has been received through its special purpose vehicle MEL Power Transmission Limited. As per the company’s filing, this order falls under the company’s “Ultra-Mega” category, indicating a value of ₹400 Crore or above, including taxes.

As part of the contract, the company shall construct a 400 kV double-circuit (D/c) transmission line. This shall be spread across 138 km, linking Mahan to Rewa in Madhya Pradesh. The contract also includes extension works across 400 kV Rewa substation, Forming part of the infrastructure to evacuate power from the Mahan Energen Limited Generating Station.

The order is classified as an EPC (Engineering, Procurement, and Construction) project. The company plans to execute the contract within a period of 29 months from the date of award. 

Following this development, stock was locked in 5% upper-circuit.

At around 11.29 AM, Bajel Projects was trading 5% higher at ₹211.93, against previous close of ₹201.84 on NSE.

In its results announcement for the quarter ended March 2025, the company posted a 31.82% decline in its net profit at ₹4.82 Crore. In the previous corresponding period, the business posted a net profit of ₹7.07 Crore.

The company’s revenue from operations stood at ₹801.43 Crore. This was 63.84% higher at ₹489.16 Crore in the previous corresponding quarter.

For feedback and suggestions, write to us at [e-mail]