Synopsis:
POWERGRID has won a TBCB project to build a 765 kV Sub-Station at Prayagraj and transmission lines across Uttar Pradesh and Madhya Pradesh, boosting power infrastructure and easing load on the Vindhyachal-Varanasi line.
The shares of a Maharatna PSU company, specializing in the transmission of electricity through its Extra High Voltage (EHV) and High Voltage (HV) networks and grid management, are in focus upon being declared the successful bidder under Tariff-Based Competitive Bidding (TBCB) for a transmission project.
With a market capitalization of Rs. 2,66,880.83 crores on Wednesday, the shares of Power Grid Corporation of India Ltd jumped by upto 0.34, making a high of Rs. 289.35 per share compared to its previous closing price of Rs. 288.35 per share.
What Happened
Power Grid Corporation of India Ltd, engaged in the transmission of electricity through its Extra High Voltage (EHV) and High Voltage (HV) networks and grid management, has been declared the successful bidder under Tariff-Based Competitive Bidding (TBCB) for a project aimed at strengthening the Inter-State Transmission System.
The project, titled “Inter-regional (NR-WR) Transmission System,” is designed to ease the load on the 765 kV Vindhyachal-Varanasi Double Circuit (D/c) line. POWERGRID will carry out the project on a Build, Own, Operate, and Transfer (BOOT) basis, with the Letter of Intent (LoI) received on 16th September 2025.
The project includes the construction of a new 765 kV Sub-Station at Prayagraj, Uttar Pradesh, as well as the establishment of 765 kV D/c Transmission Lines that will span across Uttar Pradesh and Madhya Pradesh. This initiative will enhance the transmission capacity and strengthen the power infrastructure in the region.
Financials & Others
The company’s revenue rose by 1.73 percent from Rs. 11,006 crore to Rs. 11,196 crore in Q1FY25-26. Meanwhile, Net profit declined from Rs. 3,724 crore to Rs. 3,631 crore during the same period.
Power Grid Corporation of India Limited (POWERGRID) is a leading state-owned electric utility company, primarily engaged in the transmission of electricity across India through extensive Extra High Voltage (EHV) and High Voltage Direct Current (HVDC) transmission networks. Incorporated in October 1989 and headquartered in Gurugram, it operates as a Maharatna Central Public Sector Enterprise under the Ministry of Power, Government of India.
The company’s mandate involves planning, implementation, operation, and maintenance of the inter-state transmission system, as well as running national and regional load dispatch centres, ensuring reliable and economical electricity transfer across regions. Besides the core transmission business, POWERGRID has diversified into consultancy, telecom, and energy services, leveraging its robust infrastructure for national development.
POWERGRID operates 1,80,849 circuit km of transmission lines, 286 substations, and maintains a transformation capacity of 5,71,331 MVA, making it one of the largest and most reliable power transmission utilities globally. With an inter-regional (IR) transfer capacity of 1,01,180 MW, accounting for 84% of India’s total IR capacity, and a system availability of 99.84%. The company also remains committed to sustainable development, technological innovation, and ongoing investments in modernizing India’s power infrastructure.
The company reported a significant rise in capex, increasing from Rs. 4,615 crore in FY25 to Rs. 6,981 crore in FY26. Commissioning also improved, reaching Rs. 2,806 crore till July FY26, up from Rs.2,429 crore during the same period in FY25, reflecting continued investment momentum in infrastructure expansion.
Written by Sridhar J
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