Bajel Projects Limited, a leading player in the Power Transmission and Distribution (T&D) EPC sector and a Bajaj Group company, has announced the bagging of a Major EPC order for the 765kV AIS New Substation Package in Maharashtra. The disclosure was made pursuant to Regulation 30 of the SEBI Listing Regulations on May 13, 2026. The order has been awarded by PowerGrid Corporation of India Limited (PGCIL), placed on behalf of its SPV, M/s. NES Pune East New Transmission Limited.

Order Details at a Glance

The following table summarises the key parameters of the awarded contract:

Project Scope and Strategic Significance

The project is part of the "Network Expansion Scheme in Maharashtra for removal of Transmission constraints in Pune Region-I (765/400 kV AIS Pune East)" — a grid reinforcement initiative aimed at strengthening one of India's most industrially significant load centres. The scope includes the establishment of a new 765/400kV AIS Substation at Pune East, along with the extension of the existing 400kV Karjat (AIS) and 400kV Lonikand-II (AIS) Substations in Maharashtra. The order adds to Bajel Projects' 765kV substation portfolio and reflects the company's track record in executing high-voltage transmission infrastructure projects.

Management Commentary

Commenting on the order win, Mr. Rajesh Ganesh, Managing Director & CEO, Bajel Projects Limited, said:

"This order win marks a defining moment for Bajel as we strengthen our presence in the 765kV substation segment through a strategically critical project in Pune, one of the country's most important industrial hubs. The Pune East 765/400kV substation, together with the augmentation of Karjat and Lonikand-II, will play a pivotal role in removing transmission constraints in the Pune Region and strengthening Maharashtra's grid."

Order Classification Framework

The company classifies its project wins, inclusive of GST, into the following financial bands:

The present order is classified as a Major Order, placing its value in the range of ₹200 Cr to ₹300 Cr (inclusive of GST). The company has confirmed that no promoter, promoter group, or group company holds any interest in the awarding entity, and the contract does not fall within the purview of related party transactions.

Bajel Projects Limited , a leading player in the Power Transmission and Distribution (T&D) EPC sector and a Bajaj Group company, has secured a Major EPC order from PowerGrid Corporation of India Limited for the construction of a 400kV transmission line. The order, placed on behalf of M/s Bellary Davanagere Power Transmission Limited, is for Transmission Line package TL-01 under the Bellary Davanagere 2nd 400kV (Quad) D/c line project. The announcement was made via a regulatory disclosure on May 13, 2026.

Project Details

The project forms part of the transmission system strengthening initiative for the integration of renewable energy potential. It is designed to facilitate the evacuation of 0.25 GW of renewable power at Davanagere and 2.75 GW at Bellary. The scope of work involves the construction of approximately 70 kms of 400kV (Quad) D/c transmission line connecting the Bellary Substation to the Davanagere Substation. The project is classified as a domestic EPC contract and is expected to be completed within 21 months from the date of the issuance of the Notification of Award.

The table below summarises the key parameters of the awarded order:

Order Classification

The company categorizes the order as a 'Major' order based on its internal policy regarding project size inclusive of GST. The classification falls within the financial band of ₹200 crore to ₹300 crore. The disclosure confirmed that the promoter, promoter group, and group companies hold no interest in the entity awarding the order, and the transaction does not qualify as a related party transaction. The table below outlines Bajel Projects' internal order classification framework:

Strategic Significance

Rajesh Ganesh, Managing Director & CEO of Bajel Projects Limited, highlighted that the order win reinforces the company's execution credentials in high-voltage transmission and its continued alignment with India's energy transition priorities. He noted that the Bellary–Davanagere corridor is a central transmission system for evacuating renewable power from critical solar and wind zones in Karnataka. This addition to the order book underscores the company's engineering capability and focus on delivering mission-critical transmission infrastructure. Bajel Projects was formerly part of Bajaj Electricals Limited under the EPC segment and continues to be guided by the same values that shaped its growth over the last two decades.