Bajel Projects Ltd has reported an unexecuted order book of over Rs.4,000 crore, which is the highest-ever in the company’s history since its demerger with Bajaj Electricals.
In an investor presentation, Bajel Projects said that its outstanding EPC order book, as of June 30, 2026, stood at Rs.4,055 crore, which is an all-time high since the demerger of the company from Bajaj Electricals Ltd in 2023.
This unexecuted order book, which excludes GST as well as supply orders, was dominated by the power transmission business to the tune of 82 per cent. The International EPC and New Energies (formerly power distribution) verticals had a share of around 9 per cent each.
During the first quarter (Q1: April to June) of FY27, the Bajaj Group entity landed significant orders, which included:
- An order worth over Rs.200 crore for construction of a 400kV transmission line associated with the Bellary-Davanagere RE evacuation scheme in Karnataka
- A Rs.200 crore-plus mandate for building the new 765kV AIS Pune (East) substation in Maharashtra, along with bay extension works at the existing Karjat and Lonikand substations
- The company’s first “ultra-mega” order, worth over Rs.400 crore, for construction of a 500kV overhead transmission line in Egypt
- A domestic order, valued at over Rs.300 crore, for building a new 400/220/33kV GIS substation associated with a data centre project.
Project execution discipline
Commenting on the company’s recent performance, Rajesh Ganesh, MD & CEO, Bajel Projects Ltd, said, “Our Q1FY27 performance reflects the underlying strength of our execution engine, with standalone profit after tax growing 37 per cent year-on-year even as revenue phasing moderated in line with project execution timelines. The improvement in margins underscores the discipline we are bringing to project delivery and cost management across our portfolio. We have ended this quarter with our highest ever unexecuted order book since listing. As we move through FY27, we remain confident in our ability to convert our order book into sustained, profitable growth.”
Capacity expansion
Bajel Projects has planned capital expenditure of Rs.170 crore towards capacity expansion of its manufacturing facility at Ranjangaon, in Pune district, Maharashtra. The expansion, to be undertaken in three phases, will see overall capacity nearly doubling to 110,000 tonnes per annum (tpa) from 56,514 tpa as of March 2026. In the first phase, a new galvanizing bath will be commissioned, followed by expanding manufacturing capacity of transmission towers and monopoles, in the second and third phase, respectively.
The Ranjangaon plant specializes in transmission line towers, monopoles, high masts, lighting poles, and other structures, supported by a fully enclosed galvanizing unit serving both in-house needs and third-party clients.
Featured photograph (source: Bajel Projects) is for representation only