Bajel Projects bags ₹700 cr PowerGrid EPC orders in a day

What Bajel Projects announced

Bajel Projects Limited said it has secured two confirmed Engineering, Procurement and Construction (EPC) work orders from Power Grid Corporation of India Limited (PowerGrid), taking the combined value to over ₹700 crore in a single day. The orders are linked to transmission line packages under the WR-ER Inter-Regional Network Expansion Scheme – Part A. PowerGrid is acting through its Special Purpose Vehicle (SPV), WR ER Part A Power Transmission Limited, for the scheme.

The company described the wins as a “Mega” order and an “Ultra-Mega” order under its internal project classification policy, which includes GST. The Mega order is indicated as ₹300 crore to ₹400 crore, while the Ultra-Mega order is indicated as ₹400 crore and above. Bajel Projects did not disclose an exact rupee value for each package in its broader update, but the classification bands set the disclosed ranges.

Order split: TL06 and TL02 packages

The two packages are identified as TL06 and TL02. TL06 is associated with new 400 kV double-circuit transmission lines, while TL02 relates to a new 765 kV double-circuit transmission line. Both are part of the same inter-regional scheme intended to strengthen power evacuation and grid connectivity between India’s Western and Eastern regions.

Bajel Projects has described TL06 as a Mega order under its policy and TL02 as an Ultra-Mega order. The company’s disclosures also state that the overall set of packages is expected to improve connectivity across Chhattisgarh and Jharkhand, based on the routes and endpoints disclosed for the two lines.

TL06 scope: 400 kV double-circuit line work

For TL06, the scope covers design, supply, erection, testing and commissioning of new 400 kV double-circuit transmission lines. The line connections disclosed include Jamshedpur (New) with Ranchi (New) and New PPSP. In another detailed scope note, Bajel Projects described stretches involving Jamshedpur (New) to LILO to Ranchi (New) with Twin Moose conductors, and Jamshedpur (New) to LILO to New PPSP with Twin HTLS conductors.

The execution timeline disclosed for the 400 kV order is 27 months. The contract is positioned as a domestic EPC project awarded under the scheme’s framework.

TL02 scope: 765 kV double-circuit line work

TL02 covers construction of a new 765 kV double-circuit transmission line from Raigarh (Tamnar) to Jamshedpur (New), Part-II. Bajel Projects has described the scope as an EPC contract for transmission line works, including engineering, procurement and construction services for the high-voltage line.

The execution period for this order is stated as 33 months from the date of issuance of the Notification of Award. The company also noted the project is part of the WR-ER Inter-Regional Network Expansion Scheme – Part A and is to be completed through the Tariff Based Competitive Bidding (TBCB) route.

Why the SPV matters and how PowerGrid is involved

PowerGrid is named as the awarding entity, acting through its SPV, WR ER Part A Power Transmission Limited. SPVs are typically used in large transmission projects where the project entity signs contracts and executes the scheme requirements under defined frameworks such as TBCB.

Bajel Projects also stated that neither its promoters nor group companies have any interest in the awarding entity, and that the award does not constitute a related party transaction. This disclosure is relevant for investors tracking governance and related-party exposure in large infrastructure contracting.

Market reaction and what was disclosed publicly

Following the announcement, shares of Bajel Projects gained on Monday, August 10, according to market reports cited alongside the order update. While the company did not provide stock movement percentages in the disclosed material, the positive move was linked to the size of the order wins and the visibility they provide on execution.

On valuations and revenue recognition, the company’s disclosures focus on contract value bands and timelines, but do not provide expected quarterly revenue contribution or margin guidance. As a result, the immediate market takeaway remains centered on order book additions and execution schedules.

Key facts at a glance

What the projects aim to achieve in the grid

The scheme context described by the company positions these lines as part of strengthening power evacuation capacity between the Western and Eastern regions. The disclosed endpoints suggest an emphasis on improving transfer capability and grid connectivity across states such as Chhattisgarh and Jharkhand. In transmission, such inter-regional upgrades are typically designed to reduce congestion and improve reliability by adding high-capacity corridors.

From an execution standpoint, the two different voltages also imply different complexity levels, with the 765 kV corridor generally representing higher-capacity infrastructure. However, Bajel Projects’ statements focus on the confirmed scope, timelines, and the project classification bands rather than construction or commissioning milestones.

Conclusion

Bajel Projects’ two PowerGrid-linked EPC wins under the WR-ER Inter-Regional Network Expansion Scheme – Part A take the combined disclosed order value to over ₹700 crore. The awards cover a 400 kV package with a 27-month timeline and a 765 kV package with a 33-month timeline from the Notification of Award. The next set of updates investors will watch for are project start milestones and progress disclosures as the execution period runs through the stated timelines.