Upper Circuit Alert & Rs 2984 Crore Order Book: Transmission Company Bags Rs 300 to 400 Crore PGCIL Order for 400kV Transmission Line
In the last three months, Bajel Projects has delivered a 44 per cent return.
Bajel Projects Limited, a key player in the power transmission and infrastructure sector, locked in the 5 per cent upper circuit at Rs 242.72 on July 2, 2025, after securing a major order valued between Rs 300 crore to Rs 400 crore. The Engineering, Procurement, and Construction (EPC) contract has been awarded by Power Grid Corporation of India Limited (PGCIL) for the Transmission Line Package TL04 under the REZ Ph-IV (Part 3: 6GW) (Bikaner Complex): Part B project.
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The project includes the construction of a 400kV Siwani-Jind (PG) D/C (Quad) Transmission Line stretching over approximately 99 kilometres. The work is expected to be completed within 18 months from the issuance of the Notification of Award. The contract has been issued by PGCIL’s Special Purpose Vehicle (SPV), POWERGRID Siwani Transmission Limited. Bajel confirmed that the order is not a related party transaction, and none of its promoters or group companies hold any interest in the awarding entity.
Bajel’s Managing Director and CEO, Mr. Rajesh Ganesh, highlighted the company’s role in advancing India’s renewable energy goals. He noted that this transmission project supports the green energy corridor and reflects Bajel's commitment to delivering quality and efficient infrastructure solutions.
Financially, Bajel Projects reported strong operational growth in FY25. For the March 2025 quarter, revenue from operations rose 63.84 per cent year-on-year to Rs 801.43 crore from Rs 489.16 crore in the March 2024 quarter. However, profit after tax declined by 31.79 per cent to Rs 4.82 crore from Rs 7.07 crore. On a full-year basis, Bajel posted a 122.22 per cent increase in revenue to Rs 2,598.24 crore and a 260.75 per cent rise in net profit to Rs 15.46 crore for FY25, compared to Rs 4.29 crore in FY24.
Despite the recent positive development, the stock has declined 11.11 per cent on a year-to-date basis and is down 20.39 per cent over the past 12 months. However, in the last three months, Bajel Projects has delivered a 44 per cent return.
As of July 3, 01:04 pm IST, the broader market was positive, with the Sensex up 0.2 per cent at 83,575 and the Nifty 50 gaining 0.2 per cent to 25,500. Sentiment was supported by global cues, including trade optimism following a U.S.–Vietnam agreement and hopes for progress on a potential U.S.–India trade deal.
Disclaimer: The article is for informational purposes only and not investment advice.