Bajel Projects Limited (BAJEL) has secured a major order worth approximately ₹200+ crore from a private client for the Engineering, Procurement and Construction (EPC) of 400 kV Gas Insulated Substations (GIS) at Dharavi and Ghatkopar in Mumbai. Per the Company’s project classification policy (inclusive of GST), the order qualifies as a Major order. The order encompasses the EPC works of 400 kV GIS Receiving Substations (RSS), including associated electrical systems, substation automation, communication infrastructure, Balance of Plant equipment, and civil works.

Significant Infrastructure Project

This project will support the strengthening of Mumbai’s power transmission infrastructure and contribute to enhancing power reliability in one of India’s most densely populated metropolitan regions. Commenting on the order win, Mr. Rajesh Ganesh, Managing Director & CEO, Bajel Projects Limited, said: ‘As India’s leading cities continue to experience rapid urbanization and increasing electricity demand, robust transmission infrastructure becomes critical to ensuring reliable and efficient power delivery. These projects will contribute to strengthening Mumbai’s grid network through advanced GIS technology while supporting the city’s long-term energy requirements. We are proud to be associated with infrastructure that powers economic growth and enhances the quality of life for millions of consumers.’

Strengthening Market Position

This order further strengthens Bajel’s order book and reinforces its position as a trusted partner for developing critical transmission infrastructure across India. With increasing investments in renewable energy, grid modernization and transmission expansion, Bajel Projects continues to strengthen its position as a leading player in India’s power transmission and distribution sector, delivering complex and high-value projects that enable the nation’s energy ambitions.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Bajel Projects Limited

Bajel Projects Limited belongs to the Utilities › Utilities – Regulated Electric sector. Here’s a quick read on where the business and the stock stand today.

Bajel moves sideways over three months, with neither buyers nor sellers taking control. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 1 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. The stock holds at 41% of its 52-week range with RSI at 50. In other words, neither side has a clear edge right now. Revenue grows at 67.5% and profits at 0.0% CAGR — a genuinely strong business. Nevertheless, the stock drops 5.5% in three months. The market sells the stock, not the story. Watch whether that changes at the next earnings. Check Fundamentals of Bajel Projects Limited.

Bajel Projects Limited (BAJEL) has emerged as the successful bidder for the Lakadia Inter-State Transmission Project under the TBCB route, marking a significant milestone for the company’s power infrastructure division. AnantGrid Projects One Private Limited (AGPOPL), a joint venture of Bajel Projects Limited (26%) and National Investment and Infrastructure Fund (74%), received a Letter of Intent (LoI) from PFC Consulting Limited (PFCCL) declaring it the winner of the bid.

Project Details

The project involves the construction of approximately 270 km of 765 KV double-circuit transmission lines from Halvad to Vadodara in Gujarat, along with additional works at three substations: Halvad, Vadodara, and South Olpad. The transmission scheme includes the evacuation of power from Lakadia (Phase-II: 7.5GW), Jam Khambhaliya (Phase-II: 5.5GW), and Jamnagar (Phase-I: 1GW) – Part-A.

Significance of the Collaboration

This win underscores the successful collaboration between Bajel Projects Limited, National Investment and Infrastructure Fund (NIIF), and AnantGrid Private Limited. Established in March 2026, this partnership aims to deliver high-quality transmission infrastructure to support India’s renewable energy targets. The collaboration leverages NIIF’s investment and asset management capabilities, AnantGrid’s project development expertise, and Bajel’s engineering, procurement, and construction strengths.

As a leading company in power infrastructure, Bajel Projects Limited is committed to driving operations excellence and making significant contributions to India’s renewable energy capacity goals by 2030.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Bajel Projects Limited

Bajel Projects Limited belongs to the Utilities › Utilities – Regulated Electric sector. Here’s a quick read on where the business and the stock stand today.

Bajel moves sideways over three months, with neither buyers nor sellers taking control. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 1 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. The stock holds at 58% of its 52-week range with RSI at 53. In other words, neither side has a clear edge right now. The stock rises 6.6% in three months on 67.5% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Bajel Projects Limited.

Bajel Projects Limited (BAJEL) has been awarded an ultra-mega order worth INR 600+ crore for a 765kV transmission line package (TL05) under the WR-ER Inter-Regional Network Expansion Scheme – Part A. This significant win reinforces Bajel’s position as a preferred EPC partner for strategic grid-strengthening projects across India.

Project Scope and Impact

The project involves constructing 765kV double-circuit transmission lines connecting Raigarh (Tamnar), Raigarh (Kotra), and Dharamjaygarh in Chhattisgarh. This initiative aims to reinforce critical inter-regional power evacuation capacity between the Western and Eastern regions of the national grid.

Company’s Growth and Vision

Commenting on the development, Mr. Rajesh Ganesh, MD & CEO of Bajel Projects Limited, said: ‘This order strengthens our presence in high-capacity 765kV transmission infrastructure and reflects the continued trust placed in Bajel’s execution capabilities. As India’s power grid scales up to meet rising demand, we remain focused on delivering projects that are critical to the nation’s energy security and inter-regional connectivity.’ This win adds to Bajel’s growing order book in high-voltage transmission infrastructure.

As a leading company in power infrastructure, Bajel Projects Limited is known for its project management skills and excellence in driving operations. Being part of the Bajaj Group, Bajel continues to be a preferred partner for several states, national, and international utilities and private infrastructure players.

Source: NSE Corporate Announcement

Fundamental & Technical Analysis of Bajel Projects Limited

Bajel Projects Limited belongs to the Utilities › Utilities – Regulated Electric sector. Here’s a quick read on where the business and the stock stand today.

Bajel moves sideways over three months, with neither buyers nor sellers taking control. Razor-thin margins below 5% make profitability extremely vulnerable — this business needs scale or pricing power urgently. 1 loss quarter(s) over five years signals earnings fragility — not chronic but worth noting. The stock holds at 52% of its 52-week range with RSI at 60. In other words, neither side has a clear edge right now. The stock rises 5.8% in three months on 67.5% revenue growth. As a result, the market gives it more credit than the fundamentals strictly justify. Watch the next quarterly results. If growth accelerates, the move makes sense. If not, expect some gains to unwind. Check Fundamentals of Bajel Projects Limited.