Bajel Projects Secures ₹400 Cr PowerGrid Order – Share Price Still Dips, Here's Why
Bajel Projects Limited, a fast-rising EPC company from the Bajaj Group, has bagged a significant ₹400 crore order from PowerGrid Corporation of India Ltd (PGCIL) under the “Ultra-Mega” project category. The transmission project, awarded through MEL Power Transmission Ltd, will see Bajel Projects constructing a 400 kV double-circuit line in Madhya Pradesh, stretching around 138 kilometers from Mahan to Rewa.
📌 Project Scope
The project involves more than just laying transmission lines. It also includes the expansion of the existing 400 kV Rewa substation to help evacuate electricity from the Mahan Energen Limited power plant. The contract has a tight timeline—to be completed within 29 months from the award date—positioning Bajel’s execution capabilities under the spotlight.
📉 Bajel Projects Share Price Reaction
Despite the big win, market reaction was underwhelming. On June 20, 2025, bajel share price closed at ₹202 on the National Stock Exchange (NSE), marking a 0.31% drop. Over the past year, bajel projects limited share price has seen a steep 32% dip, including a 26% fall year-to-date and 4.76% decline in the last month alone.
🔍 Why the Drop Despite Good News?
While the ₹400 Cr project boosts its order book, the muted investor sentiment could stem from concerns around execution delays, rising input costs, and market-wide pressure on midcap EPC stocks. However, long-term investors are still optimistic, especially with Bajel's ambitious targets for 2028–2030.
📊 Bajel Projects Limited Overview
Incorporated in 2022, Bajel Projects Ltd is a key player in Engineering, Procurement, and Construction (EPC), specializing in Power Transmission, Power Distribution, and International EPC work. It was carved out of Bajaj Electricals Ltd and now operates as an independent entity under the Bajaj Group umbrella, which has 40+ companies and 100,000+ employees globally.
💼 Services Offered
- Power Transmission: 132kV to 765kV lines, 7,900+ ckm executed
- Substations: 40+ high-voltage substations
- Distribution: 50,000+ villages electrified, 26 lakh+ connections
- International EPC: Active in Kenya, Togo, Zambia
- Manufacturing: Monopoles, Towers, High Masts – Pune-based plant
🏭 Production Capacity
- Lattice Towers: 30,000 MTPA
- Steel Poles: 15,000 MTPA
- Lighting Masts: 15,000 MTPA
- Galvanizing: 5,000 MTPA
📒 Bajel Projects Order Book (Q3 FY25)
- Total: ₹2,792 Cr
- Power Transmission: 85%
- Power Distribution: 14%
- International EPC: 1%
🎯 Bajel Projects Limited Share Price Target
Despite short-term weakness, long-term outlook remains positive. Brokers and analysts tracking bajel projects limited share price target expect a range of ₹250–₹280 over the next 12–18 months, contingent on smooth execution of new projects like the PowerGrid deal.
📈 NSE Performance
On the National Stock Exchange (NSE), bajel projects limited share price nse has been volatile but remains under radar for value investors. If you track the bajel projects, look for metrics like EBITDA margin (high single digits), ROCE (targeting 15%+), and international project growth through FY30.
🔑 Final Thoughts
Bajel Projects Ltd continues to build a strong foundation in the Indian and global power sector. The ₹400 Cr order from PowerGrid is more than just a contract—it's a vote of confidence in the company’s execution capabilities. While market volatility may influence short-term prices, Bajel’s long-term fundamentals remain robust.
Investors tracking bajel projects limited share price, IPO performance, or project execution updates should keep an eye on upcoming quarterly results and new order announcements.
Disclaimer: This content is for informational purposes only and should not be considered financial advice. Always do your own research before making investment decisions.
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