Bajel Projects Soars 5% After Bagging ₹300+ Cr Power Transmission Order from PGCIL
By Shishta Dutta | Updated at: Oct 14, 2025 05:55 PM IST
Mumbai, July 3, 2025 – On Thursday, Bajel Projects Limited (NSE: BAJEL | BSE: 544042) rose 5% to ₹242.72 after getting a big EPC order worth ₹300–400 crore from Power Grid Corporation of India Ltd (PGCIL). The Rajasthan Renewable Energy Zone (REZ) Phase IV project will build a 99 km, 400 kV double-circuit transmission line between Siwani and Jind. This order, which will be carried out by PGCIL’s SPV, Powergrid Siwani Transmission Ltd, under the TBCB route, will help Bajel’s position in India’s green energy infrastructure even further.
The announcement caused a big increase in trading volume, which showed that investors were feeling good about it. Bajel is becoming a major EPC player in the national transmission arena due to recent successful commissions of other 400 kV lines and a robust order book. However, its high P/E ratio (around 184x) shows that investors anticipate the stock to rise quickly.
Market Movement Overview
| Metric | Value |
|---|---|
| Last Traded Price | ₹242.72 |
| Previous Close | ₹231.17 |
| Day’s High / Low | ₹242.72 / ₹229.44 |
| VWAP | ₹236.31 |
| Traded Volume | 0.51 lakh |
| Market Capitalisation | ₹2,805.91 crore |
| P/E Ratio (Adjusted) | 172.82 |
| 52-Week Range | ₹146.41 – ₹330.00 |
Data as of 12:12 IST, July 3, 2025 | Source: BSE
Project Award Details: ₹300+ Cr Mega EPC Order
Bajel Projects confirmed that it has received a Mega category EPC order from PGCIL, valued above ₹300 crore. The contract is for the development of a 99 km long 400kV double-circuit (Quad) transmission line in Haryana, under the Siwani–Jind TL04 package, awarded through the TBCB route.
Key Details of the Order
| Particular | Description |
|---|---|
| Awarding Entity | PowerGrid Corporation of India Ltd (PGCIL) |
| SPV | POWERGRID Siwani Transmission Ltd (formerly Bikaner B Power Transmission Ltd) |
| Nature of Work | EPC Contract for Power Transmission Line |
| Length of Transmission Line | Approximately 99 km |
| Contract Timeline | 18 months from issuance of NOA |
| Project Classification | Mega Order (₹300–400 Cr as per company policy) |
| Project Specification | Spec No: CC/NT/W-TW/DOM/A04/25/03431 |
| Related Party Transaction | No |
| Promoter Interest | None |
The project is part of the broader REZ Phase IV (Part 3: 6GW) transmission system supporting India’s renewable energy goals.
Management Commentary
Rajesh Ganesh, Managing Director and CEO of Bajel Projects, stated:
“We are proud to contribute to the nation’s green energy initiatives by strengthening the transmission system for the REZ Ph-IV, Bikaner Complex. This project reflects our commitment to delivering high-quality, timely, and efficient solutions that power India’s growth.”
Strategic Significance
This huge order makes Bajel an even more popular EPC player in India’s power transmission business. The project fits with the company’s continuous focus on building large-scale grid infrastructure that is necessary for integrating renewable energy and achieving national electrification targets.
About Bajel Projects Limited
Bajel Projects Limited is a listed engineering, procurement, and construction (EPC) company engaged in power transmission and distribution infrastructure. Formerly part of Bajaj Electricals Limited, Bajel has developed a reputation for executing complex grid-scale projects across India. The company is listed on both NSE and BSE.
REF: https://nsearchives.nseindia.com/corporate/BAJEL_03072025120850_Intimation_under_Reg30_Order_Signed.pdf
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