Bajel Projects Ltd today announced a ₹250 cr contract from Tata Power Company Ltd for 220 kV gas‑insulated substation work in Mumbai, while shares ticked 0.45% higher to ₹157 on the BSE.
The order, slated for an 18‑month execution period, covers the supply and installation of a 220 kV GIS substation at Salsette receiving station and a 220 kV outdoor GIS substation at Powai receiving station. The company classified the contract as a major order under its policy, which flags projects between ₹200 cr and ₹300 cr.
This latest win follows Bajel’s August acquisition of a ₹600 cr ultra‑mega transmission line package (TL05) under the WR‑ER Inter‑Regional Network Expansion Scheme, underscoring its growing presence in high‑voltage grid infrastructure. The Mumbai substation deal complements the company’s portfolio of 765 kV transmission projects, strengthening its reputation as a preferred EPC partner for power‑sector upgrades.
CEO and MD Rajesh Ganesh said, "The Tata Power contract reinforces our execution credibility in high‑capacity substation work and boosts confidence in our ability to deliver critical grid projects." Analysts note the order could lift the company’s FY27 revenue and margin outlook, as the firm continues to target a robust pipeline of ₹200‑₹300 cr projects.
Investors have responded positively, with the stock’s modest 0.45% rise reflecting confidence in the company’s expanding order book and the broader demand for power‑grid infrastructure in India. Bajel’s next quarterly update will shed light on how this contract fits into its full‑year performance.