Bajel Projects Ltd has received an EHV substation order from Power Grid Corporation of India Lt (PGCIL), to be executed in Madhya Pradesh.
In a regulatory filing, Bajel Projects said that the order has been placed by a TBCB subsidiary of PGCIL, and is valued between Rs.100 crore and Rs.200 crore.
With a completion schedule of 18-30 months from the date of award, the order involves 765/400/220kV bay extension works at the existing Mandsaur substation in Madhya Pradesh.
The contract will be implemented on behalf of “Mandsaur I RE Transmission Ltd,” a TBCB subsidiary of PGCIL.
The project
According to information available with tndindia.com, “Mandsaur I RE Transmission Ltd” is developing an ISTS scheme known as “Augmentation of transformation capacity and implementation of line bays at Mandsaur substation for RE interconnection.”
PGCIL had emerged as the successful bidder for this scheme, under the TBCB framework, getting the better of two other bidders. The letter of intent (LoI) was issued to PGCIL on September 19, 2025, followed by the formal acquisition of “Mandsaur I RE Transmission Ltd” by PGCIL, on October 8, 2025. [See tndindia.com story dated October 10, 2025]
In a very recent development, Central Electricity Regulatory Commission (CERC) approved the annual transmission charges (tariff) of the said scheme, which stand at Rs.446.99 million. Incidentally, PGCIL has very recently renamed the project SPV “Mandsaur I RE Transmission Ltd” to “Powergrid Mandsaur Augmentation Transmission Ltd.”
Order book
As reported by tndindia.com on February 5, 2025, Bajel Projects had an outstanding order book of Rs.2,912 crore as of December 31, 2025, with power transmission orders wielding a share of 93 per cent. Bajel Projects also completed as many as ten power transmission projects during 9MFY26, which included 765kV and 400kV transmission lines apart from substations.
Also read: Bajel Projects completes ten transmission projects in 9MFY26
Featured photograph (source: Bajel Projects Ltd) is for representation only