, a small-cap EPC player in the power transmission infrastructure segment, is likely to attract investor interest on Thursday, 14 May, after the company secured two fresh orders from Power Grid Corporation of India.
In separate regulatory filings, the company said the orders were awarded by Power Grid Corporation of India on behalf of its special purpose vehicles (SPVs), namely NES Pune East New Transmission Limited and Bellary Davanagere Power Transmission Limited.
The first order relates to Substation Contract SS137T for the construction of a 765kV new AIS substation at Pune East, along with bay extension works at Karjat Substation and Lonikand-II Substation. The second order pertains to Transmission Line Package TL-01 for the construction of a 400kV Bellary-Davanagere Quad double-circuit transmission line.
Both projects have been awarded under the EPC (Engineering, Procurement and Construction) segment and are classified as domestic contracts. The execution timeline for both orders is 21 months from the date of issuance of the Notification of Award.
The company added that neither the promoter nor promoter group companies have any interest in the awarding entities, and the transactions do not fall under related-party transactions.
It further stated that the order value for each project is estimated to be between ₹200 crore and ₹300 crore.
This marks for the company after it secured ultra-mega EPC transmission line orders from international clients in the Middle East and North Africa (MENA) region in late April.
That order involved the construction of two contiguous sections of 500kV overhead transmission lines and was valued at around ₹400 crore.
Shares rebound 38% in April
The company’s shares witnessed renewed selling pressure in May, declining 10% so far amid the broader market sell-off. However, the stock had , offering much-needed relief to shareholders after ending six out of the last eight months in the red.
In terms of yearly performance, the stock delivered a negative return of 36% in 2025, following a multibagger gain of nearly 100% in 2024. In the current year so far, the stock is marginally down by 2%.
Bajel Projects is a leading player in the power infrastructure business, with a strong presence across the power transmission and power distribution sectors.
The company was formerly part of Bajaj Electricals under its EPC segment and continues to operate with the same legacy, values, and operational expertise built over the last two decades under Bajaj Electricals.
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