Bajel Projects wins 400 kV EPC order in 21 months

Order win: what Bajel Projects announced

Bajel Projects said it has secured a ‘major’ engineering, procurement and construction (EPC) order for a 400 kV transmission line project under the Bellary-Davanagere renewable energy evacuation scheme. The order was awarded by Power Grid Corporation of India Ltd (Powergrid) through its special purpose vehicle (SPV) Bellary Davanagere Power Transmission.

As per the company’s internal order classification, the contract falls in the “major orders” category of ₹200 crore to ₹300 crore. Bajel also stated the order is a domestic EPC contract.

Project scope under the TL-01 package

The project involves the construction of a 400 kV (Quad) double-circuit transmission line under the TL-01 package of the Bellary-Davanagere 2nd 400 kV line scheme. Bajel Projects described it as part of a renewable energy evacuation system.

The transmission line length is around 70 km, connecting the Bellary Substation to the Davanagere Substation. The work is aimed at strengthening evacuation infrastructure in the corridor to support renewable energy integration.

Renewable evacuation: capacity linked to the scheme

The scheme is designed to integrate renewable generation into the national grid. As stated in the filing, the system targets integration of 0.25 GW at Davanagere and 2.75 GW at Bellary into the national grid.

For power transmission EPC companies, such renewable evacuation projects typically sit at the intersection of grid expansion and renewable rollout. In this case, the contract is tied to a defined corridor and substations, with specified generation capacity to be evacuated.

Timeline and execution window

Bajel Projects said the project will be executed within 21 months from the date of issuance of the notification of award. The stated timeline provides investors and customers a clear delivery horizon for the TL-01 package.

The company did not provide a detailed milestone schedule in the text, but confirmed the 21-month period as the execution window from award notification.

Disclosures on related-party interest

Bajel Projects stated that neither the promoter, promoter group, nor group companies have any interest in the awarding entity. This disclosure is relevant for market participants tracking governance and related-party considerations in project awards.

The awarding entity is the Powergrid SPV, Bellary Davanagere Power Transmission, under the Power Grid Corporation of India Ltd umbrella, according to the information provided.

Management commentary on the order

Rajesh Ganesh, Managing Director and CEO, Bajel Projects Limited, commented on the win and positioning in the transmission segment. He said: “This major order win is a strong endorsement of Bajel's execution credentials in high-voltage transmission and our continued alignment with India's energy transition priorities.”

The statement connects the project’s high-voltage nature with the broader theme of grid enablement for energy transition, consistent with the scheme’s stated objective of renewable energy evacuation.

Stock market reaction and company profile

Shares of Bajel Projects (BPL) rose 2.12% to close at ₹171.15 on the BSE, as per the text. Bajel Projects is listed under the Capital Goods sector and Engineering - Construction industry classification in the provided details.

The company is described as a leading business in power infrastructure, with presence in power transmission and power distribution. It was formerly part of Bajaj Electricals under the EPC segment.

Recent order headlines around Bajel Projects

The provided text also references other recent order-related developments. Bajel Projects shares were reported to jump 10% on an order win worth over ₹700 crore from Maharashtra State Electricity Transmission Company Limited (MSETCL). Separately, Bajel said it secured “Ultra Mega” international EPC orders from a Middle East and North Africa (MENA) based client, involving construction of two contiguous sections of a 500 kV overhead transmission line, valued at around ₹400 crore, with an execution timeline of 11 months.

Another update in the text notes a Tata Power Company EPC order for transmission line works involving construction of a 220 kV transmission line on monopoles, valued in the ₹50 crore to ₹100 crore range, to be completed within 10 months from the date of issuance of the purchase order.

Key facts at a glance

Why this order matters for the transmission EPC space

The order is linked to a defined renewable energy evacuation scheme, which is a core requirement as renewable generation scales and needs reliable transmission connectivity. A 400 kV double-circuit line typically addresses high-voltage evacuation and strengthens grid interconnections, and the project’s stated purpose is integration into the national grid.

For Bajel Projects, the contract adds to a set of order wins referenced in the text across domestic and international markets, including 400 kV and 500 kV transmission work, as well as substation and related transmission line projects. The company’s disclosures around execution timelines and promoter interest also provide standard governance signals relevant to public market investors.

Conclusion

Bajel Projects’ 400 kV transmission line order under the Bellary-Davanagere renewable energy evacuation scheme falls in its ₹200 crore to ₹300 crore “major” category and is slated for completion within 21 months from the award notification. The project’s stated objective is to support renewable power integration of 0.25 GW at Davanagere and 2.75 GW at Bellary into the national grid.

Next updates for investors are likely to be progress-related disclosures as execution begins under the TL-01 package timeline, alongside any further order announcements referenced in the company’s exchange filings.