Bajel Projects wins largest-ever ₹1,500 crore order for 765 kV transmission lines in Gujarat

What happened

Bajel Projects Ltd won its largest-ever order worth ₹1,500 crore, including GST, from Lakadia A Power Transmission Ltd. The order covers building about 270 km of 765 kV double-circuit transmission lines between Halvad and Vadodara, plus substation works in Gujarat, to be completed in 36 months.

Confirmed

Global impact / market context

This is a large contract for Bajel Projects, so it can support future revenue as work is billed over 36 months. The company also holds 26% of AnantGrid Projects One Pvt Ltd, the buyer's parent, which links it to the project's ownership returns as well as construction work.

Analyst inference

The lines form part of a shared transmission network meant to carry about 14 GW of renewable power from Lakadia, Jam Khambhaliya and Jamnagar. That ties Bajel's order to India's power evacuation buildout, where transmission capacity must be added before new generation can reach users.

Analyst inference

What to watch

1. The project is scheduled for completion within 36 months from the purchase order date, so watch progress reports and whether construction stays on this timeline. Confirmed
2. Watch how much revenue Bajel books from this ₹1,500 crore order each quarter, since the money is earned over three years rather than all at once. Analyst inference
3. Watch for updates on AnantGrid Projects One, jointly owned by Bajel with 26% and NIIF with 74%, since its funding needs could affect Bajel's cash and costs. Proposed

Evidence

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