A leading engineering firm has secured a significant infrastructure development contract for establishing a new electrical substation in Maharashtra. The project involves comprehensive engineering, procurement, and construction services for a critical 400/220KV transmission facility, highlighting the company’s expertise in power sector infrastructure development.
Share Price Movement
The share price of Bajel Project Limited went up by 10 percent to Rs. 269.7 per share on Friday, an increase from its previous close of Rs. 244.95 per share. The market capitalisation now stands at approximately Rs. 3,055 crore as of December 13, 2024. YTD stock has given 100.5% returns.
What Happened
The company has received a supply of goods and services contract from Solapur Transmission (a project SPV company of Torrent Power) for EPC work for the establishment of a new 400/220KV Solapur substation.
Q2 Financial Highlights
According to its recent filing, in the quarter ending September 2024, Bajel Project consolidated revenue from operations has increased by 231 percent YOY from Rs. 200 crore in Q2 FY24 to Rs. 662 crore in Q2 FY25 and increased by 29.3 percent QoQ from Rs. 512 crore in Q4 FY24.
The company’s consolidated net loss has gone from a loss of Rs. 4.44 crore in Q2 FY24 to a profit of Rs. 3.66 crore in Q2 FY25. As compared to the last quarter of 2025, the company’s net profit has reduced by 33 percent QoQ from Rs. 5.52 crore.
Market Outlook
India’s power transmission and distribution sector is poised for growth, with a focus on enhancing efficiency and extending electricity access nationwide. The government is driving privatisation in both transmission and distribution, aiming to reduce technical and commercial losses.
Initiatives like the Revamped Distribution Sector Scheme (RDSS) and the 24×7 power for all program are set to improve power quality and reliability. With the addition of renewable energy sources like wind and solar, India’s generating capacity is expected to reach 500 GW by 2030, with solar power making up nearly 40% of this total.
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Shareholding Pattern
As of the September 2024 shareholding pattern, Bajel Project Limited is primarily held by the promotors at 62.61 percent, foreign institutional investors hold 0.5 percent, and the public with 28.59 percent.
About Company
Bajel Projects Limited (BPL), incorporated in January 2022, is an EPC company based in Mumbai, focusing on power infrastructure. With 666 employees and CEO Rajesh Ganesh, BPL provides comprehensive solutions across power transmission, distribution, monopoles, and international EPC projects.
Bajel Projects specialises in end-to-end power infrastructure projects, including 7,000 km of high-voltage transmission lines and 40 substations aimed at enhancing rural electrification in India. BPL operates a state-of-the-art manufacturing facility in Ranjangaon, Pune, producing 40,000 metric tons annually.
The plant manufactures transmission towers, monopoles, and high masts. Part of the Bajaj Group, Bajel Projects serves domestic and international clients like PGCIL and ZESCO, establishing a strong market presence in the power sector.
Written By Fazal Ul Vahab C H
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