Bajel Projects Bags ₹700+ Crore Transmission Order; Shares Jump Over 12% 

Mumbai, March 16: Bajel Projects Limited has secured an ultra-mega EPC order valued above ₹700 crore from Maharashtra State Electricity Transmission Company Limited (MSETCL) for the establishment of a 400/220 kV substation along with associated transmission infrastructure in Pune district, according to a regulatory filing. 

The project will be executed for MSETCL’s special purpose vehicle Saswad Transmission Limited. The scope covers engineering, procurement and construction of a greenfield 400/220 kV Air Insulated Switchgear substation at Saswad in Pune along with associated high-voltage transmission lines. 

As outlined in the exchange disclosure under Regulation 30 of SEBI Listing Regulations, the contract includes design, supply, erection, testing and commissioning of the substation as well as transmission connectivity infrastructure. The project execution timeline is approximately 23 months from the date of issuance of the Notice of Award. 

The company classified the project as an “Ultra-Mega Order”, which under its internal categorisation corresponds to contracts valued at ₹400 crore and above. 

Bajel Projects Share Price Reaction 

The Bajel Projects share price moved sharply higher following the announcement and strong order pipeline sentiment. 

As of 2:18 pm IST on March 16, 2026, Bajel Projects shares were trading at ₹157.42, up ₹17.46 or 12.47% for the session according to exchange data. The rally pushed the stock well above its previous close of ₹139.96 as investors reacted to the large order win and improved visibility in the company’s transmission EPC business. 

Market participants tracked the Bajel Projects share price closely during the session as order inflow announcements often influence valuation expectations for EPC infrastructure contractors. 

Company Background 

Bajel Projects Limited operates in power transmission and distribution infrastructure with EPC capabilities spanning high-voltage substations, transmission lines and grid connectivity systems. 

The company was previously part of Bajaj Electricals Limited under the EPC segment before being demerged. Bajel now focuses on transmission infrastructure development across utilities, state transmission companies and private sector energy infrastructure developers. 

Its portfolio includes engineering and execution of high-voltage transmission systems, substations and integrated grid solutions across multiple states and international markets. 

Conclusion 

The Saswad project strengthens Bajel Projects’ presence in India’s high-voltage transmission infrastructure segment and represents the largest single order secured in the company’s power transmission business. 

The order is expected to enhance the company’s EPC order book visibility as utilities continue expanding grid capacity to support industrial demand growth and power evacuation requirements across Maharashtra. 

Source: 

• https://nsearchives.nseindia.com/corporate/BAJEL_13032026183208_intimationsigned.pdf 
• https://www.nseindia.com/get-quote/equity/BAJEL/Bajel-Projects-Limited