During Monday’s trading session, the shares of a leading player in the power infrastructure sector in India surged by 8.8 percent to Rs. 276.75 on BSE, after the company secured its first order from an upcoming data center service provider.
With a market capitalisation of Rs. 3,119.5 crores, at 02:06 p.m., the shares of Bajel Projects Limited were trading at Rs. 270, up by nearly 6.2 percent, as against its previous closing price of Rs. 254.4.
What’s the News:
According to the latest regulatory filings with the stock exchanges, Bajel Projects Limited announced its successful entry into the emerging data centre segment by securing its first order from an upcoming data centre service provider.
The company bagged an order for the design and construction of a 220/33 KV Gas Insulated Substation (GIS) and transmission line extension for a colocation data centre in Navi Mumbai.
This project highlights Bajel’s strategic entry into the rapidly growing data centre market driven by India’s digital transformation and the increasing demand for data storage and processing capabilities.
The company plans to leverage its extensive expertise in design, Engineering, Procurement, and Construction (EPC) to deliver critical power infrastructure solutions.
The project will include a combination of lattice towers and monopoles, conductors, and other critical components such as the GIS Substation, ensuring a reliable, efficient and continuous power supply.
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Previous Order:
On 23rd July, Bajel Projects was awarded a supply of Goods and Services contract worth ~Rs. 586.3 crores by PowerGrid Corporation of India Limited on behalf of their project-specific SPV, Beawar‐ Mandsaur Transmission Limited, to be executed in 23 months.
The scope of work includes the Transmission Line Package for 765 kV D/c Beawar – Mandsaur PS Transmission Line – Part I, which is associated with the “Transmission System for evacuation of power from Rajasthan REZ Ph‐IV (Part‐2: 5.5GW) (Jaisalmer/ Barmer Complex)” through the Tariff Based Competitive Bidding (TBCB) route.
Financials:
The company reported a significant growth in revenue from operations, experiencing a year-on-year increase of nearly 150 percent, rising from Rs. 205 crores in Q1 FY24 to Rs. 512 crores in Q1 FY25.
During the same period, the company’s net profit rose from a loss of Rs. 4.4 crores to a profit of Rs. 5.5 crores.
Stock Performance
The stock has delivered positive returns of nearly 38.6 percent of returns in one year, while around 24 percent of positive returns in the last six months. So far in 2024, the shares of Bajel Projects have given multibagger returns of about 102 percent.
About the Company:
Incorporated in 2022, Bajel Projects Limited, formerly part of Bajaj Electricals Limited under the EPC segment, deals in Engineering, Procurement and Construction projects (EPC) which includes power transmission and power distribution Projects.
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Written by Shivani Singh
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