Pace Digitek has 44% of energy backlog in BOO/BOOT assets

Pace Digitek reported an executable order book of Rs 10,735.3 crore at Q2 FY27, led by Rs 8,527.7 crore of energy work. BOO/BOOT projects accounted for Rs 3,770.6 crore, or 44.2% of the energy backlog, tying a material portion of planned energy execution to build-own-operate and build-own-operate-transfer project scopes.

What is Pace Digitek’s total executable order book?

Pace Digitek’s executable order book was Rs 10,735.3 crore as of Q2 FY27, comprising Rs 8,527.7 crore of energy projects and battery energy storage system, or BESS, product supply and Rs 2,208 crore of Telecom & ICT projects. Energy represented 79.4% of the total, while Telecom & ICT represented 20.6%.

The backlog was therefore weighted toward energy rather than being evenly divided between Pace Digitek’s two reported end-markets. The presentation describes the order book as spanning utilities, telecom and other infrastructure, with disclosed customers including BSES, SECI, NTPC, Bharat Sanchar Nigam Limited, Indian Railways and RailTel.

How is Pace Digitek’s energy order book divided by delivery model?

Pace Digitek’s Rs 8,527.7 crore energy backlog comprised Rs 4,167.7 crore of engineering, procurement and construction, or EPC, work, Rs 3,770.6 crore of BOO/BOOT work and Rs 589.4 crore of supply work as of September 30, 2026. EPC was the largest category at 48.9%, followed by BOO/BOOT at 44.2% and supply at 6.9%.

The presentation’s broader classification puts BOO/BOOT at 44%, BESS EPC at 37%, solar EPC at 12% and BESS product supply at 7%. BESS EPC and solar EPC together equal the 48.9% EPC share in the detailed energy order-book table, with the percentage differences reflecting rounding.

Which projects make up Pace Digitek’s BOO/BOOT backlog?

Pace Digitek’s BOO/BOOT backlog covered 2.22 gigawatt-hours, or GWh, of BESS capacity and had an executable value of Rs 3,770.6 crore as of September 30, 2026. Its largest disclosed project was the 1.10 GWh KREDL solar-plus-BESS BOO project, valued at Rs 1,775 crore.

The other BOO projects were a 0.50 GWh KPTCL standalone BESS project worth Rs 700 crore, a 0.40 GWh MSEDCL standalone BESS project worth Rs 416.2 crore and a 0.12 GWh BSES Rajdhani Power standalone BESS project worth Rs 179.4 crore. A SECI solar-plus-BESS BOOT project added 0.10 GWh and Rs 700 crore, taking the disclosed BOO/BOOT portfolio to five projects.

Pace Digitek’s EPC energy backlog was Rs 397.1 crore larger than its BOO/BOOT backlog, at Rs 4,167.7 crore, and included 2.60 GWh of standalone BESS projects before solar EPC contracts without a stated GWh figure. The four named BESS EPC contracts for SECI, DVC, NLC India and NTPC totalled Rs 3,150.9 crore, while MAHAGENCO solar EPC and Bondada Engineering solar balance-of-system work added Rs 1,016.8 crore.

How does Pace Digitek’s Telecom & ICT backlog compare with energy?

Pace Digitek’s Telecom & ICT order book was Rs 2,208 crore as of September 30, 2026, equal to 20.6% of total executable backlog and about one-quarter of the Rs 8,527.7 crore energy total. EPC plus operations and maintenance, or O&M, was the largest Telecom & ICT category at Rs 1,561.3 crore, representing 70.7% of that segment.

Bharat Sanchar Nigam Limited accounted for Rs 1,411 crore of telecom-infrastructure EPC plus O&M work and Rs 264.7 crore of optical fibre cable, or OFC, EPC work. RNS added Rs 111.9 crore of telecom-infrastructure EPC plus O&M, while TANFINET contributed Rs 38.4 crore of OFC network EPC plus O&M.

The remaining Telecom & ICT backlog included Rs 195.6 crore of supply work, Rs 129.2 crore of standalone O&M and Rs 10.1 crore classified as others. Pace Digitek also reported RailTel ICT EPC worth Rs 24.5 crore and Indian Railways Kavach EPC worth Rs 22.6 crore.

What does the BOO/BOOT mix mean for Pace Digitek’s funding and execution plans?

Pace Digitek linked increased funding requirements to energy asset creation and project execution scale-up. Consolidated total debt rose to Rs 1,370.7 crore on September 30, 2026, from Rs 960.7 crore on March 31, 2026, while net debt increased to Rs 855.8 crore from Rs 191.6 crore.

Management said total borrowings reflected Rs 1,311.8 crore of ongoing investment toward energy asset creation and project execution. Finance costs were Rs 35.6 crore in Q2 FY27, compared with Rs 28.3 crore in Q1 FY27, which the presentation attributed primarily to higher project funding requirements and working-capital utilisation.

Pace Digitek’s BESS manufacturing capacity reached 5 GWh at the close of H1 FY27, compared with 2.5 GWh in FY2026, while H1 FY27 manufacturing output was 0.84 GWh against 0.89 GWh for all of FY2026. The company said its second 2.5 GWh line became operational in August 2026, and a further 5 GWh line was under implementation for commissioning targeted by December 2026.

Conclusion

Pace Digitek’s Rs 10,735.3 crore executable order book combines Rs 8,527.7 crore of energy work with Rs 2,208 crore of Telecom & ICT work, but the energy mix is shaped by the Rs 3,770.6 crore BOO/BOOT component. That project scope is only Rs 397.1 crore smaller than the full EPC energy backlog, while total debt increased by Rs 410 crore between March 31 and September 30, 2026.

The next disclosed milestones are the targeted December 2026 commissioning of the additional 5 GWh manufacturing line and trial production of in-house BESS containers in November 2026, followed by targeted full-scale production from January 2027. Management also revised FY27 revenue guidance to Rs 3,300 crore to Rs 3,500 crore from Rs 3,200 crore to Rs 3,400 crore, and set FY28 guidance at Rs 4,000 crore to Rs 4,200 crore.