Shares of Bharat Heavy Electricals (BHEL) were trading in the green and 1% higher on Monday, 17 February, after the company announced securing a Rs 6,700 crore power project from Singareni Collieries. 

The company announced that they had been awarded a Letter of Intent (LOI) by Singareni Collieries Company (SCCL) for the Engineering, Procurement, and Construction (EPC) package of the 1×800 megawatt (MW) Singareni Stage-II thermal power project.

The project would be located in the Mancherial district of Telangana, India, and is expected to be worth Rs 6,700 crore. This domestic EPC contract was won through domestic competitive bidding.

The scope of the order entails supplying, erecting, testing, and commissioning the boiler, turbine, generator, flue gas desulfurization (FGD), and associated auxiliaries, along with electrical and control and instrumentation (C&I) systems, and balance of plant packages. The project is expected to be completed in 48 months. 

In India’s energy and infrastructure sectors, Navratna PSU BHEL is the largest engineering and manufacturing firm. It is a leading producer of power equipment worldwide. As of 31 December 2024, the Government of India held 63.17% of the company.

BHEL’s operating revenue climbed 32.21% to Rs 7,277.09 crore in Q3 2024, while its consolidated net profit climbed 123.34% to Rs 134.70 crore.

At 11:57 am, the shares of BHEL were trading 0.71% lower at Rs 191.93 on NSE.

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