Bajel Projects bags Rs 100-200 Cr order from PGCIL for Mandsaur substation

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Nifty Microcap 250market · in no size index; the smallest one is used-0.8%-2.2% vs market

Heavy Electrical Equipment peers, median of 30sector-0.6%-2.4% vs sector

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AI summary

Bajel Projects has won a Large EPC order worth Rs 100-200 Cr from PowerGrid Corporation (PGCIL) for the 765kV Mandsaur Pooling Station extension in Madhya Pradesh. The 18 to 30 month project involves extending the 765/400/220kV substation to support renewable energy interconnection under India's 500GW RE target. The order is domestic and not a related party transaction, awarded on behalf of the Mandsaur I RE Transmission SPV.

Likely market impact

New revenue from a government PSU order supports order book growth in the T&D EPC segment, aligned with India's renewable energy push.