Bajel Projects Ltd has reported its highest ever unexecuted order book, reaching Rs 5,000 crore for the quarter ended September 30, 2026. This marks a 48 percent increase compared to the same period last year, according to the company’s press release.
Despite a drop in total revenue from operations to Rs 514 crore in Q2 FY27, down from Rs 614 crore in Q2 FY26, the company maintained a steady EBITDA margin of 4.8 percent, generating an EBITDA of Rs 25 crore.
The company’s performance was impacted by delayed project starts due to conflict in the Middle East and domestic right-of-way challenges. However, Bajel Projects secured several significant orders during the quarter, including a 500 kV transmission line agreement worth over Rs 400 crore with Egypt’s Egyptian Electricity Transmission Company and orders valued at Rs 1,600 crore under the WR-ER Inter-Regional Network Expansion Scheme.
In a statement, Rajesh Ganesh, MD & CEO of Bajel Projects Ltd, said: “We have achieved our highest ever unexecuted order book (UEOB) of ~Rs. 5000 Cr at the end of Q2 FY27 and ~ Rs. 6500 Cr, as of date, reflecting healthy revenue visibility for the future.”
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As India continues to strengthen its power transmission network, Bajel Projects is well-positioned to capitalize on opportunities aligned with its capabilities and return expectations. The company’s focus on margin discipline, seamless project delivery, and sustainable growth is expected to drive its performance in the coming quarters.
The company’s financial results highlight its ability to maintain profitability despite external pressures.
Financial Performance and Order Book Growth
Bajel Projects Ltd reported a first-half FY27 revenue of approximately Rs 1,081 crore. For the first half, EBITDA reached Rs 49 crore with a 4.4 percent margin.
Profit before tax for Q2 FY27 was Rs 8 crore, with profit after tax at Rs 6 crore, aided by a 31 percent reduction in interest costs year-over-year.