Power Grid declared as the successful bidder for transmission project in Rajasthan

Following the announcement, shares of the company were trading lower by 0.31% at ₹340.10 per share.

The company will take on the project on a build, own, operate, and transfer (BOOT) basis. The company reported that the project comprises an augmentation of transformation capacity and associated bays extension works at the existing Bhadla-III substation in the state of Rajasthan.

Earlier this month, Power Grid was declared as the successful bidder under TBCB to establish an inter-state transmission system to strengthen the transmission system for interconnections of Bhadla-III & Bikaner-III Complex. The project will be undertaken on a BOOT basis and comprises of a 765 kilovolt (kV) D/C transmission line interconnecting the Bhadla-III and the Bikaner-III substations. Additionally, the project will also comprise extension work at associated bays and the substations in the State of Rajasthan.

For the quarter ended June 30, 2024, Power Grid reported a 4% year-on-year (YoY) growth in its net profit to ₹3,724 crore. The company’s total consolidated income for the quarter remained unchanged at ₹11,280 crore.

In Q1FY25, Power Grid’s earnings before interest, taxes, depreciation, and amortisation (EBITDA) came in flat at ₹9,847 crore.

The company has pegged the estimated outlay up to 2032 at ₹2,07,500 crore. The transmission business is expected to be at ₹1,90,500 crore while other businesses will account for up to ₹17,000 crore.

Shares of the company have risen by nearly 43% since the beginning of the year. The stock has gained over 85% in the past year.