Bajel Projects Limited has announced the bagging of a 'Large' order for the extension of the Mandsaur Pooling Station (PS). This order, valued between ₹100 crore and ₹200 crore as per the company's internal classification, is a significant component of India's strategy to augment transformation capacity for Renewable Energy interconnection. The contract, identified as 765kV AIS Extn. Substation Package SS 108T, involves extending the existing 765/400/220kV Mandsaur Pooling Station. The project is part of the "Augmentation of Transformation Capacity and Implementation of line bays at Mandsaur for RE interconnection" initiative, executed via the Tariff Based Competitive Bidding (TBCB) route. This award reinforces Bajel's role in high-voltage infrastructure crucial for integrating renewable energy into the national power grid. The project's timeline is 18 to 30 months from the issuance of the Notification of Award. Rajesh Ganesh, MD & CEO of Bajel Projects Limited, stated that the win reflects the company's technical competence and strategic focus on securing profitable contracts. He highlighted the government's emphasis on infrastructure-led growth and the increasing demand for resilient, high-voltage substations. This order follows Bajel's recent record Q3 results, which showed significant EBITDA margin expansion. The company is positioning itself as a specialized power transmission EPC player focused on quality of earnings and long-term profitability. The entity awarding the order is PowerGrid Corporation of India Limited (PGCIL), acting on behalf of SPV “MANDSAUR I RE TRANSMISSION LIMITED”. The order is not considered a related party transaction.
