Power Grid wins ₹1,152 crore annual transmission project in Gujarat; everything investors need to know

Worth ₹1,152.49 crore, the project, titled “Transmission System for Integration of Power from RE Projects in Lakadia REZ in Gujarat-Phase II (7,500 MW),” will be developed on a Build, Own, Operate and Transfer (BOOT) basis.

Power Grid in a regulatory filing said that it has also received the Letter of Intent (LoI) for the project on September 3, 2026. The project will establish an interstate transmission system for the integration of power from renewable energy projects in Lakadia REZ in Gujarat.

The project comprises the establishment of a new 765/400 kV Lakadia-II substation in Gujarat. Further, the project involves construction of 765kV transmission lines traversing through Gujarat along with the associated equipment and bays.

The project also involves installation and commissioning of a synchronous condenser at the Lakadia-II substation.

Power Grid Q1 FY27 results

The Maharatna PSU firm had recorded a 0.8% decline in its consolidated net profit to ₹3,598 crore for the April to June quarter of the financial year 2026-27, in comparison to ₹3,631 crore in the same period a year earlier.

Amid the 2.6% flat Q1 revenue growth, the company's earnings were also impacted due to higher tax expenses in the period under review.

Data showed that the company’s tax expenses increased 1.7%, while the profits were also impacted by the movement in regulatory deferral account balances in the period.

Despite the subdued earnings growth, the company’s operational-level earnings before interest, tax, depreciation, and amortisation (EBITDA) advanced 4.2%, while the margins improved by 125 basis points in the June quarter.

Power Grid share price trends

On Thursday, Power Grid shares settled at ₹265.60 apiece on the National Stock Exchange, falling 0.45%.

From the beginning of the year, Power Grid shares have slipped 0.17%. Over a month’s time, the stock has lost 7%, while for a six-month period, it has declined 9%.

Shares of the firm had hit a 52-week high of ₹324.95 on April 27, 2026, and a 52-week low of ₹250 on February 2, 2026.

According to NSE data, as of September 3, 2026, Power Grid has a total market capitalisation of ₹2.47 lakh crore.