Bajel Projects: Order book soars to all-time high in Q2FY27, rises further in October 2026
- November 7, 2026
The unexecuted order book of Bajel Projects Ltd recorded its all-time high during the second quarter (Q2: July to September) of FY27, and grew even further in October 2026.
In a release, Bajel Projects Ltd said that its unexecuted order book touched an all-time high of Rs.5,001 crore as of September 30, 2026 (end of Q2FY27).
This order book, inclusive of GST but excluding supply orders, was dominated to the tune of 85 per cent by domestic power transmission mandates. Bajel’s power distribution vertical, now known as “New Energies” accounted for 8 per cent while international EPC mandates made up for the remaining 7 per cent.
The October surge
In October 2026, the opening month of Q3FY27, Bajel’s order inflow was significantly boosted by its largest-ever order of around Rs.1,500 crore placed by project SPV Lakadia A Power Transmission Ltd. (Learn more). The company also received orders worth over Rs.400 crore from Tata Power with respect to the utility’s power transmission business in Mumbai. These orders are expected to propel Bajel’s unexecuted order book, very significantly, during Q3FY27.
Towards stronger execution
Commenting on the company’s recent performance, Rajesh Ganesh, MD & CEO, Bajel Projects Ltd, said, “We have achieved our highest ever unexecuted order book (UEOB) of Rs.5,000 crore at the end of Q2FY27 and around Rs.6,500 crore, as of date, reflecting healthy revenue visibility for the future.
Our performance in Q2FY27 reflects our focus on margin discipline and building a high-quality order book. While revenue from operations for the quarter was modest, we held our Q2 EBITDA margin steady at 4.8 per cent despite high commodity prices and other cost pressures.
As India continues to strengthen its power transmission network to meet growing energy demand and enable the country’s clean energy ambitions, we remain focused on seamless project delivery, while pursuing opportunities that are aligned with our capabilities and return expectations. Our priorities for the coming quarters are to strengthen execution, improve efficiency and support sustainable, profitable growth.”
Manufacturing 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. To be carried out in three phases, the expansion 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 – a critical piece of infrastructure for transmission hardware — will be commissioned. This will be 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 Ltd) is for representation only