The shares of the leading power infrastructure company hit 5 percent upper circuit of Rs 191.40 apiece after the company received two work orders worth Rs 450.61 crore from PowerGrid Corporation of India Limited.
With a market capitalization of Rs 2,203.05 crore, the shares of Bajel Projects Ltd were trading at Rs 191.40 per share, increasing around 5 percent as compared to the previous closing of Rs 182.35 apiece.
According to the company filing, Bajel Projects Ltd company received two work orders worth Rs 450.61 crore from PowerGrid Corporation of India Limited for the supply of Goods and Services contract for a Transmission Line Package. Firstly, the Company has received an order for the Delhi location worth Rs 92.18 crore which is scheduled to complete 3 Months from the date of issuance of notification of award.
Furthermore, the second work order received for Halvad‐Vataman, Gujarat location worth Rs 358.43 crore is scheduled to be completed 21 Months from the date of issuance of notification of award.
Looking into Bajel Projects Ltd’s financial performance, revenue increased by 57 percent from Rs 175.01 crore in Q3 FY23 to Rs 275.08 crore in Q3 FY24. During the same period, net profit increased by 340 percent, from a loss of Rs 1.40 crore to a profit of Rs 3.36 crore.
According to the most recent ownership data available for the December 2023 quarter, the company’s promoters own 62.85 percent, Domestic Institutional Investors own 12.03 percent, and Foreign Institutional Investors (FIIs) own 10.46 percent.
Bajel Projects Limited is a distinct legal entity from Bajaj Electricals Limited. Its EPC business includes Power Transmission and Power Distribution. BPL offers entire project solutions, which include in-house design, testing, procurement, manufacturing, installation, and commissioning.
Written By:- Abhishek Singh
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