Bajel Projects Secures ₹200 Crore Order from Power Grid Corporation of India
Bajel Projects Ltd has received a ₹200 crore order from Power Grid Corporation of India Ltd for a substation project. The project, awarded through SPV Mandsaur I RE Transmission Ltd, aims to enhance renewable energy integration and includes a 765 kV AIS Extension Substation Package. Despite the order, Bajel's shares fell to ₹164.15, a decline of 33% in six months. The company reported a net loss of ₹0.42 crore in Q3 FY26 and a decrease in order book value.
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Bajel Projects Ltd, part of the Bajaj Group, has secured a ₹200 crore order from Power Grid Corporation of India Ltd, designated for a 765 kV AIS Extension Substation Package to expand the Mandsaur Power Station. The project, awarded through SPV Mandsaur I RE Transmission Ltd, is expected to be completed within 18 to 30 months and aims to enhance renewable energy integration into the power grid.
Despite this positive development, Bajel's shares traded at ₹164.15, down from ₹170, reflecting a 33% decline over the past six months. The company's Q3 FY26 results showed a revenue drop to ₹562.3 crore and a net loss of ₹0.42 crore, with an order book decrease to ₹2,912 crore.
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