G R Infraprojects LTd shares were trading flat on September 17 after the company terminated its engineering, procurement and construction (EPC) contracts with NTPC for a battery energy storage system (BESS) project at the Mouda Super Thermal Power Station in Maharashtra. 

The company issued the termination notice to NTPC with immediate effect, citing continuing force majeure and war-risk circumstances, along with contractual issues arising from the agreements. The contracts were signed on April 23, 2026, and covered three agreements related to the BESS implementation package at NTPC’s Mouda facility.

The project was originally valued at Rs 413.37 crore, excluding GST, and was scheduled for completion within 15 months from the appointed date. G R Infraprojects had earlier emerged as the lowest bidder for the project in January 2026. The company was responsible for the EPC execution of the battery storage system.

Following the termination, G R Infraprojects has invoked the dispute resolution mechanism provided under the contracts. The company has also reserved its rights and remedies under the agreements. It said the financial impact of the termination is currently being assessed.

The development comes as G R Infraprojects continues to expand beyond its traditional roads and highways business. The company has been building its presence in areas such as railways, logistics and energy infrastructure. Its official disclosures show that the NTPC BESS project was part of its efforts to enter the growing energy storage segment.

Despite the contract termination, the company expects bidding activity to improve during the second half of FY27. Management has maintained its target of around Rs 20,000 crore in order inflows for the year. It had secured around Rs 500 crore of orders in the first quarter and expects new awards to gain momentum through the remaining quarters.

At 1:22 pm, the shares of G R Infraprojects were trading 0.14% lower at Rs 817.90 on NSE. 

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