Bajel Projects Wins ₹400 Crore MENA Transmission Deals, Shares Climb

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AuthorAarav Shah|Published at:
Bajel Projects Wins ₹400 Crore MENA Transmission Deals, Shares Climb
Overview

Bajel Projects, part of the Bajaj Group, has secured over ₹400 crore in new power transmission orders from the MENA region. The deals involve building a 500 kV overhead line to strengthen the national grid, expanding the company's global presence and prompting a nearly 5% intraday jump in its stock price.

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Bajel Projects Secures Significant MENA Contracts

Bajel Projects announced it secured two contracts worth over ₹400 crore from an international client in the Middle East and North Africa (MENA). The deals are for a 500 kV overhead transmission line, a key element in reinforcing the region's high-voltage electrical grid.

These projects are strategically important for enhancing power evacuation capabilities, supporting the MENA region's growing economic and industrial energy needs. This win is a key step in expanding Bajel Projects' international market presence, building on its existing joint venture with Al Sharif Group in Saudi Arabia.

Rajesh Ganesh, Managing Director & CEO of Bajel Projects, stated that global confidence in the company's engineering and execution skills for complex, high-voltage infrastructure projects is strong. He added that securing a 500 kV transmission corridor in MENA demonstrates the company's ability to deliver on challenging international assignments.

Order Book and Financial Performance

Bajel Projects reported a strong EPC orderbook of ₹2,912 crore as of the end of the December quarter. The company completed 10 projects in the first three quarters of the fiscal year, including significant substation and transmission line works across India. For the December quarter, Bajel Projects posted revenue from operations of ₹562 crore and an EBITDA of ₹32 crore, indicating steady financial performance.

Market Reaction

The market responded positively to the announcement. Bajel Projects' share price climbed about 4.7% in intraday trading on Wednesday, reaching ₹190.05. The stock has gained 3.2% over the past five trading sessions, reflecting investor optimism after the international contract wins.

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