Bondada Engineering Incorporates BESS Subsidiary; Shares Fall 1.4%

Mumbai September, 02: Bondada Engineering Limited has incorporated Bondada Hindupur BESS Project Private Limited, a wholly owned subsidiary formed to develop, own, operate and maintain a 225 MW/450 MWh Battery Energy Storage System (BESS) project awarded by Andhra Pradesh Transmission Corporation Limited (AP Transco).

According to the company’s exchange disclosure, the new subsidiary has been established as a Special Purpose Vehicle (SPV) for undertaking the project. Its responsibilities will cover project development, financing, procurement, construction, commissioning, ownership, operations and maintenance, as applicable under the project agreements.

The BESS project has been awarded under the Build-Own-Operate (BOO) model and is designed to provide grid-scale energy storage capacity to support the power requirements of Andhra Pradesh.

The company said the project is expected to support renewable energy integration, grid balancing, peak-load management and greater flexibility in power-system operations.

Stock Market Snapshot

Bondada Engineering shares were trading at ₹281 as of 12:18 PM IST on September 2, 2026, according to the market data provided.

Based on the reference level of around ₹285 shown on the trading screen, the stock was lower by approximately 1.4%. The shares moved below the ₹280 mark briefly during the session before recovering towards ₹281.

The Bondada Engineering share price remained below the day’s reference level despite the company’s announcement of its new energy-storage subsidiary.

New Subsidiary To Handle Project Development And Operations

Bondada Hindupur BESS Project Private Limited has been incorporated specifically for the BESS project and will be wholly owned by Bondada Engineering.

The exchange filing states that 1,00,000 equity shares with a face value of ₹10 each have been subscribed by Bondada Engineering. The subsidiary will therefore remain under the company’s full ownership and control.

The project assets and related investments are proposed to be created and held within the subsidiary, subject to the project agreements and applicable regulatory requirements.

The company said all required regulatory and government approvals for the incorporation have already been obtained.

BESS Project Expands Bondada Engineering Into Energy Storage

The 225 MW/450 MWh project marks Bondada Engineering’s expansion into battery energy storage and broader energy-transition infrastructure.

Large-scale storage systems are increasingly being used to balance electricity demand and supply, particularly as renewable generation becomes a larger part of the power mix. The project is intended to provide additional flexibility to the Andhra Pradesh power system.

Bondada Engineering said the initiative will allow it to use its execution capabilities and infrastructure experience in utility-scale energy storage while diversifying its business into an emerging infrastructure segment.

Project Performance To Reflect In Consolidated Financials

The financial and operational performance of Bondada Hindupur BESS Project Private Limited will be reflected in Bondada Engineering’s consolidated financial statements in accordance with applicable accounting standards.

The company has also stated that the project will be developed and implemented in accordance with contractual, regulatory and statutory requirements.

The incorporation of the subsidiary is therefore the corporate structure through which Bondada Engineering intends to execute the BESS project, rather than an acquisition of an existing business.

Conclusion

Bondada Engineering has incorporated a wholly owned subsidiary to develop and operate a 225 MW/450 MWh Battery Energy Storage System project awarded by AP Transco under the BOO model.

The subsidiary will undertake activities spanning development, financing, procurement, construction, ownership, operations and maintenance of the project. The initiative gives Bondada Engineering a direct operating vehicle for its entry into the growing battery energy storage segment.

Shares of Bondada Engineering were trading at ₹281 as of 12:18 PM IST on September 2, 2026, around 1.4% below the ₹285 reference level visible on the trading screen.

Source:

• https://www.bseindia.com/stock-share-price/bondada-engineering-ltd/bondada/543971
• https://www.bseindia.com/xml-data/corpfiling/AttachLive/b7ef7aa2-83a3-44e8-b934-eaa75aaf7ef4.pdf