Bajel Projects has secured an 'ultra-mega' transmission line contract worth over ₹600 crore from Power Grid Corporation of India. This win follows other recent orders, pushing the company's unexecuted order book to a record ₹4,055 crore. The company's shares closed 2.55% higher at ₹193.10 following the announcement.
Bajel Projects Ltd. has secured a major infrastructure contract exceeding ₹600 crore from the Power Grid Corporation of India (PGCIL). The project involves the design, construction, and commissioning of 765kV double-circuit transmission lines in Chhattisgarh, specifically connecting Raigarh (Tamnar), Raigarh (Kotra), and Dharamjaygarh. This contract is part of the broader WR-ER Inter-Regional Network Expansion Scheme, which aims to strengthen power transmission capacity between India's Western and Eastern regions.
This latest win marks a significant period for the company. Within just three days, Bajel Projects has announced fresh orders totaling over ₹1,300 crore. These additions have propelled the company's unexecuted order book to a record high of ₹4,055 crore as of June 30, 2026. Such a backlog is vital for the company as it seeks to maintain steady revenue flow in the competitive power infrastructure sector.
From a financial perspective, the company reported a mixed performance for the first quarter of the 2027 fiscal year. While standalone net profit grew by 37.2% year-on-year to reach ₹4.5 crore, operational revenue saw a decline of 6.7% during the same period. Investors tracking the company often watch how it manages its operational costs against these revenue fluctuations.
While the growing order book provides revenue visibility, the company operates with specific financial challenges that shareholders should monitor. Bajel Projects has a high reliance on government entities like PGCIL for its order book, which creates concentration risk if public sector tendering slows down. Additionally, the company faces debt-related pressure, with an interest coverage ratio hovering around 1.6x. This means that managing interest payments requires careful financial discipline, especially when executing capital-intensive projects. Future risks also include potential input cost inflation, which can squeeze profit margins, and the inherent risk of delays in large-scale construction projects.
Following the announcement, the stock market reacted positively. On August 12, 2026, Bajel Projects' share price closed at ₹193.10 on the BSE, reflecting a 2.55% gain for the day. For investors, the next important development to track will be the progress and execution timeline of these newly secured projects, as the company needs to translate its record-high order book into sustained revenue growth while managing its debt obligations.