Bajel Projects jumped 12% to a day high of ₹175.68 on 27 October after bagging orders worth ~₹1,700 crore.

In an exchange filing on Monday evening, Bajel Projects Ltd confirmed securing two separate orders from Tata Power and Lakadia A Power Transmission Ltd.

The larger of the two assignments is valued at ₹1,500 crore, inclusive of GST. Termed an ‘Ultra-mega’ contract by Bajel, it marks the single biggest transmission deal secured by the firm to date.

As part of the Lakadia agreement, the company will construct roughly 270 km of 765 kV transmission lines linking Halvad and Vadodara in Gujarat, while also carrying out infrastructure enhancements at substations located in Halvad, Vadodara, and South Olpad.

Bajel has 36 months to finish. The lines are part of a wider network built to carry 14 GW of clean power out of the Lakadia, Jam Khambaliya and Jamnagar regions.

The assignment further cements Bajel’s involvement in the development, following the August bid selection of AnantGrid Projects One, a venture held 26% by Bajel and 74% by NIIF, for the Lakadia Part A transmission initiative.

The second order is smaller. The Tata Power Company Ltd has hired Bajel to build two substations in Mumbai, at Dharavi and Ghatkopar, for around Rs 200 crore including GST.

The contract scope encompasses substation machinery, control and communication networks, and related civil construction, with a completion deadline set for 18 months from the issuance of the purchase order.

These facilities will feature gas-insulated technology (GIS), an innovative design requiring a significantly smaller footprint than traditional air-insulated substations—a crucial advantage in land-constrained urban centers like Mumbai.

This represents Bajel’s second contract from Tata Power in the region this month, following an October 9 award for 220 kV substations at Powai and Salsette estimated between ₹200 crore and ₹300 crore, carrying an identical 18-month execution period.

Bajel clarified that the Tata Power deal does not involve any related-party interests. On the National Stock Exchange (NSE), the equity opened at ₹172.00, recording an intra-day low of ₹164.65.

By 10:42 am, Bajel Projects was quoted at ₹165.00, reflecting a gain of ₹8.95 or 5.74%, though the stock remains down 4.61% on a year-to-date basis.

Ready to invest like a pro? Tradz by EquityPandit app equips you with 100+ Free tools and knowledge you need to succeed. Download the Tradz by EquityPandit app and gain access to daily stock lists and insightful market analysis and much more!