Bajel Projects Ltd, in a release, said that it has completed ten power transmission projects during the nine-month period (9M: April to December) of FY26.
By completing 10 projects within the last nine months, Bajel is actively contributing to strengthen India’s transmission infrastructure, the release said.
These 10 projects included a major metro substation, and several projects around Delhi (Maharanibagh), Andhra Pradesh (Ananthapuram, Kurnool), Rajasthan (Bhadla, Sikar), Gujarat (Navsari, Kala), etc.
During 9MFY26, Bajel Projects won several large orders including:
- 765kV double circuit (DC) transmission line project from Kurnool IV to Kurnool III
- 400kV transmission line project from Mahan to Rewa and extension of 400kV substation works at Rewa
- 400kV double-circuit transmission line package associated with Bikaner Complex from Siwani to Jind
On the power distribution front, Bajel Projects constructed 2,498 ckm of high tension (HT) lines and 9904 ckm of low tension (LT) lines, apart from commissioning over 5,000 distribution transformers.
Margin-accretive growth
Commenting on the company’s performance in 9MFY26, Rajesh Ganesh, MD & CEO, Bajel Projects Ltd, said, “Our nine-month performance reflects a strategic pivot towards margin-accretive growth. We have prioritized ‘Quality of Earnings’ over sheer volume, a move validated by a strong rise in the EBITDA for Q3. We are transitioning into a specialized power transmission EPC player, focusing on ‘winning the right contracts’ that align with our longer-term profitability goals. Despite a measured revenue environment, our ability to deliver profitability remains our core differentiator. Execution is our heartbeat. We continue to seamlessly commission complex projects within the Green Energy Corridor and Inter-State Transmission Systems (ISTS). Our people remain our primary driver of success. Looking ahead, we will continue to invest in our talent, robust systems, processes and internal capabilities to meet India’s growing power infrastructure needs while delivering sustainable value.”
Order book
The unexecuted order book of Bajel Projects, as of December 31, 2025, stood at Rs.2,912 crore. This order book, which excludes supply orders, was dominated by domestic power transmission orders to the extent of 93 per cent. Domestic power distribution orders accounted for most of the remainder.
Equipped with L1 position in multiple tenders, the company expects a new wins in Q4FY26, the company’s investor presentation said, adding that the Bajel Projects was strategically booking more orders in the high voltage power transmission segment.
It may be noted that the company’s outstanding order backlog reduced from Rs.3,375 crore as of September 30, 2025 to Rs.2,912 crore as of December 31, 2025, thanks to higher pace of project execution in Q3FY26.
Also read: Bajel Projects commissions 400kV Ananthpuram–Kurnool transmission line
Featured photograph (source: Bajel Projects) is for representation only