SYNOPSIS: The company has secured an EPC order worth up to Rs. 100 crore from Tata Power for monopole transmission structures in Mumbai, with project execution scheduled within 10 months from order issuance.
During Monday’s trading session, shares of one of the leading players in India’s power EPC sector and a part of the prestigious Bajaj Group hit a 20 percent upper circuit on the stock exchanges, after the company announced securing an order worth up to Rs. 100 crores from Tata Power Company Limited.
With a market cap of Rs. 1,942.4 crores, shares of Bajel Projects Limited hit a 20 percent upper circuit at Rs. 167.9 on BSE, as against its previous closing price of Rs. 139.95. The stock has delivered positive returns of around 8 percent in one year, and has gained by over 5 percent in the last one month.
What’s the News
According to its latest regulatory filing with the stock exchanges, the company has secured a significant order from Tata Power Company Limited valued at up to Rs. 100 crore. The contract involves the engineering, procurement, and construction (EPC) of monopole transmission structures, including foundation works, for the 220 kV Kalwa Kalyan Pal transmission line project in Mumbai. As per the agreement, the project is expected to be completed within 10 months from the date of issuance of the purchase order.
Previously on 13th March, the company had secured an Ultra Mega order valued at over Rs. 700 crore from Maharashtra State Electricity Transmission Company Limited (MSETCL), making it the largest single order won in the Power Transmission business.
The project encompasses the complete turnkey EPC execution of the 400/220 kV Air Insulated Switchgear (AIS) substation at Saswad, Pune, including the design, supply, erection, testing and commissioning of the substation along with all associated transmission lines – covering civil, supply and ETC (Erection, Testing & Commissioning) components.
Financials & More
Bajel Projects reported a decline in its revenue from operations, showing a year-on-year decrease of around 10 percent from Rs. 622.4 crores in Q3 FY25 to Rs. 562.3 crores in Q3 FY26. Meanwhile, it reported a net loss of Rs. 0.42 crores from a net profit of Rs. 1.46 crores, over the same period. The company reported an order book of Rs. 2,912 crores in December 2025, representing a sequential decline of nearly 14 percent from Rs. 3,375 crores.
The current order book is led by the Power Transmission segment, which accounted for 93 percent of the total. Power Distribution followed with 7 percent, while the International EPC segment contributed 0.3 percent.
In the coming 4-6 years, the company aims to accelerate growth with targets of double-digit revenue expansion, high single-digit EBITDA margins, return on capital employed (RoCE) above 15 percent, leadership in EPC and product segments with a strong international presence, and a higher contribution to topline from international and new businesses.
Bajel Projects Limited, a part of the Bajaj Group, is engaged in the business of dealing in projects related to Engineering, Procurement and Construction (EPC) related to power transmission and power distribution projects.
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