Small-cap Stock Bajel Projects to Gain Attention on Thursday Following Multiple EPC Order Securings

Bajel Projects Secures Major Orders from Power Grid Corporation of India

On Thursday, 14 May, Bajel Projects, a small-cap EPC player in the power transmission infrastructure segment, is likely to attract investor interest after securing two fresh orders from Power Grid Corporation of India.

According to separate regulatory filings, the company has been awarded two orders by Power Grid Corporation of India on behalf of its special purpose vehicles (SPVs), namely NES Pune East New Transmission Limited and Bellary Davanagere Power Transmission Limited. The first order relates to the construction of a 765kV new AIS substation at Pune East, along with bay extension works at Karjat Substation and Lonikand-II Substation, under the Substation Contract SS137T. The second order pertains to the construction of a 400kV Bellary-Davanagere Quad double-circuit transmission line, under the Transmission Line Package TL-01.

Both projects have been awarded under the EPC (Engineering, Procurement and Construction) segment and are classified as domestic contracts. The execution timeline for both orders is 21 months from the date of issuance of the Notification of Award. The company has clarified that neither the promoter nor promoter group companies have any interest in the awarding entities, and the transactions do not fall under related-party transactions.

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The order value for each project is estimated to be between ₹200 crore and ₹300 crore. This marks another major order win for the company after it secured ultra-mega EPC transmission line orders from international clients in the Middle East and North Africa (MENA) region in late April. That order involved the construction of two contiguous sections of 500kV overhead transmission lines and was valued at around ₹400 crore.

In terms of the company's share price performance, shares rebounded 38% in April, offering much-needed relief to shareholders after ending six out of the last eight months in the red. However, the stock has declined 10% so far in May amid the broader market sell-off. On a yearly basis, the stock delivered a negative return of 36% in 2025, following a multibagger gain of nearly 100% in 2024.

Bajel Projects is a leading player in the power infrastructure business, with a strong presence across the power transmission and power distribution sectors. The company was formerly part of Bajaj Electricals under its EPC segment and continues to operate with the same legacy, values, and operational expertise built over the last two decades under Bajaj Electricals.

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