Intimation of receipt of LoI
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Awaiting price reaction for this filing.
Bondada Engineering has received a Letter of Intent from Adani Green Energy Limited and Adani Green Energy Six Limited (together part of Adani Group) for the Balance of System (BOS) supply and installation work at the 650 MW Solar Power Project located at Khavda Renewable Energy Park, Gujarat. The order is valued at Rs. 1,050 crores (excluding taxes) with an execution timeline of 1 year from receipt of the LoI. Scope covers end-to-end work including design, engineering, manufacturing, procurement, delivery, site services, installation, testing, and commissioning. The order is domestic in nature with no promoter or related party interest in the awarding entity. The company highlighted that this win strengthens its order book and reinforces its position in the renewable energy infrastructure space.
A sizable order win from a marquee client like Adani Group should be viewed positively by the market, as it materially boosts the company's order book and provides strong revenue visibility in the solar EPC segment. This could drive positive sentiment in the stock, though execution within the 1-year timeline will be the key thing to watch.