Bajel Projects Limited has officially announced the bagging of a “Large Order” for the engineering, procurement, and construction (EPC) of transmission lines. This disclosure, made on February 6, 2026, under Regulation 30 of the SEBI Listing Regulations, pertains to a contract valued between Rs. 100 Crore and Rs. 200 Crore. The project involves the 765 kV AIS extension substation package for the expansion of the Mandsaur power station, intended to boost transformation capacity and facilitate renewable energy interconnections. The order was awarded by a PowerGrid-linked Special Purpose Vehicle (SPV), Mandsaur I RE Transmission Limited, and is slated for completion within a timeframe of 18 to 30 months.

The company is a prominent leader in the Power Transmission and Power Distribution EPC sectors, formerly operating as the EPC segment of Bajaj Electricals Limited. As part of the prestigious Bajaj Group, Bajel Projects specializes in end-to-end solutions for high-voltage and extra-high-voltage (EHV) transmission lines, substations, and underground cabling. Recent news highlights the company’s strategic pivot towards “Quality of Earnings,” prioritizing higher-margin contracts over sheer volume. In early 2026, the company successfully completed ten transmission projects across various states, including Rajasthan, Gujarat, and Andhra Pradesh. Additionally, the company is tripling its galvanization capacity at its Ranjangaon facility with an investment of Rs. 170 crore to meet growing domestic and international demand.

For the quarter ended December 31, 2025 (Q3 FY26), Bajel Projects reported a revenue of Rs. 562.34 crore, reflecting a 9.65% year-on-year (YoY) decline from Rs. 622.39 crore in Q3 FY25. The company faced a consolidated net loss of Rs. 0.42 crore during this period, compared to a net profit of Rs. 1.46 crore in the same quarter of the previous year. This downturn was attributed to lower revenues and elevated interest costs of Rs. 16.22 crore. Despite the revenue dip, EBITDA surged by 45% YoY to Rs. 32 crore, with margins expanding to 5.6% due to better project selection. The company maintains a strong promoter holding of 62.53%, with notable institutional investors including Nippon Life India Trustee (Nippon India Small Cap Fund), which holds approximately 8.89% of the shares.