Bajel Projects Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

Bajel Projects announced the signing of a landmark Joint Venture (JV) agreement with Al Sharif Contracting and Commercial Development Company (ASC). ASC is a part of Al Sharif Group Holdings and one of the leading EPC contractors & manufacturers. This partnership marks a significant milestone in Bajel's international expansion strategy, positioning the company to participate in the significant infrastructure transformation currently underway in the Kingdom of Saudi Arabia.

The Joint Venture is built on a foundation of equal partnership, between Bajel Projects and Al Sharif Contracting and Commercial Development Company. The JV will be established specifically to undertake Engineering, Procurement, and Construction (EPC) business within Saudi Arabia, focusing on:

• High Voltage and Extra High Voltage (EHV) Infrastructure which also includes:
• Overhead Transmission Lines
• Substation Packages
• Underground Cabling Projects and more

Commenting on the Joint Venture agreement, Rajesh Ganesh, MD & CEO, Bajel Projects, said: The signing of this Joint Venture agreement with Al Sharif Contracting and Commercial Development Company is a defining moment for Bajel Projects as we strategically expand our presence outside India. Saudi Arabia is currently witnessing an unprecedented infrastructure surge. This partnership enables us to bid for complex, extra high-voltage inter-regional corridors and substations that are vital to Saudi Vision 2030 and beyond. BAJEL is excited and looking forward to contributing to the grand vision of the Kingdom?.

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According to an exchange filing, the proposed joint venture company (JVCo) will undertake engineering, procurement and construction (EPC) projects in high voltage (HV), extra high voltage (EHV) overhead transmission lines, substations and underground cabling in Saudi Arabia. The JVCo will execute projects based on successful bids.

Bajel Projects will hold 50% of the equity share capital of the JVCo, while the remaining 50% will be held by Al-Sharif Contracting & Commercial Development Co. Ltd. The board of the JVCo will comprise an equal number of nominees from both partners. Post incorporation, the JVCo will be classified as an associate of Bajel Projects.

Each partner will initially invest up to SAR 1 million (approximately $270,000) in cash towards equity capital. The proposed entity is yet to be incorporated, with formation expected within three to six months from the signing of the agreement. The name of the JVCo is currently under discussion.

The company clarified that the investment does not fall under the purview of related party transactions. Apart from the proposed equity participation in the JVCo, the promoters and promoter group have no interest in the entity.

The joint venture aims to capture emerging EPC opportunities in Saudi Arabia. This association will bolster the company?s engineering capabilities, project management expertise and superior execution strength in the EPC segment. The partnership will further enhance the company?s international presence in the EPC business ecosystem and support its strategic growth objectives, while enabling it to capture emerging business opportunities in the region of KSA. This is in line with the main business of the company.

Rajesh Ganesh, MD & CEO, Bajel Projects, said, The signing of this joint venture agreement with Al Sharif Contracting and Commercial Development Company is a defining moment for Bajel Projects as we strategically expand our presence outside India. Saudi Arabia is currently witnessing an unprecedented infrastructure surge. This partnership enables us to bid for complex, extra-high-voltage inter-regional corridors and substations that are vital to Saudi Vision 2030 and beyond. BAJEL is excited and looking forward to contributing to the grand vision of the Kingdom ?.

Al Sharif Contracting CEO, Engineer Hussain N. Gardezi, said, ?We are happy to conclude the agreement. The resources of two big players will be pooled together for development of infrastructure of Kingdom of Saudi Arabia. This is the need of the hour in line with vision 2030 and beyond of Kingdom of Saudi Arabia. Kingdom of Saudi Arabia plans to build one of the most sustainable transmission networks to connect abundance renewable energy to the load centres.

Bajel Projects (BPL) is a leading company in the business of power infrastructure, with a strong presence in the power transmission and power distribution sectors. BPL was formerly part of Bajaj Electricals under the EPC segment.

Bajel Projects reported a consolidated net loss of Rs 0.42 crore in Q3 FY26, compared with a net profit of Rs 1.46 crore posted in Q3 FY25. Revenue from operations declined 9.64% year-on-year to Rs 562.34 crore in the quarter ended 31 December 2025.

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As per the company?s classification, the value of an ?ultra mega? contract is Rs 400 crore and above.

The order involves construction of the 765 kV Vindhyachal Pool?Prayagraj double-circuit transmission line (Part-II) under the Inter-regional (NR-WR) Transmission System Strengthening project. The high-capacity corridor is aimed at easing congestion on the existing 765 kV Vindhyachal?Varanasi line and improving power flow between the Northern and Western grids.

Rajesh Ganesh, MD & CEO, Bajel Projects, said, ?Securing this Rs 400 crore+ Ultra Mega order is a definitive validation of our 'Quality of Earnings' strategy and our approach of winning the right, technically demanding contracts. The 765 kV Vindhyachal-Prayagraj line is a critical piece of the national grid puzzle, and our role in strengthening the NR-WR corridor speaks to our leadership in the high-voltage EPC domain.?

This order further strengthens Bajel?s robust order book and follows the successful commissioning of over 2,000 ckms of transmission lines during 2024-26.

Bajel Projects (BPL) is a leading company in the business of power infrastructure, with a strong presence in the power transmission and power distribution sectors.

Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. Shares of Power Grid Corporation of India fell 1.33% to Rs 288.45 on the BSE.

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Bajel Projects announced that it has been awarded an Ultra Mega domestic order valued at over Rs 400 crore. The project involves the development of high-capacity transmission infrastructure critical for the stability and efficiency of India's inter-regional power flow.

The contract, designated as Transmission Line Package TL02, involves the construction of the 765 kV Vindhyachal Pool ? Prayagraj D/c line (Part-II). This high-voltage corridor is a vital component of the Inter-regional (NR-WR) Transmission System strengthening initiative. It is specifically engineered to relieve the loading of the existing 765 kV Vindhyachal-Varanasi D/c line, ensuring a more resilient and balanced exchange of power between the Northern and Western Grids.

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