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Bharat Heavy Electricals (BHEL) advanced 2.88% to Rs 212.40 after the company announced that it had received a Letter of Intent (LOI) from Gujarat State Electricity Corporation (GSECL) for the EPC package for the 1x800 MW Ukai Extension Unit-7.

BHEL gains on bagging Rs 7,500-cr LoI from GSECL

21-Mar-2025, 12:02
The company has received LOI on 20 March 2025, which pertains to the engineering, procurement and construction (EPC) package for the 1x800 MW Ukai Extension Unit No 7 Thermal Power Station (TPS) in Tapi District, Gujarat. The scope of the order includes the supply of equipment such as boilers, turbines, generators, and associated auxiliaries, along with electrical and instrumentation (C&I) systems, balance of plant packages, as well as erection, commissioning and civil works.

The total value of the order is Rs 7,500 crore, with the commercial operation expected within 54 months.

The company clarified that the contract does not fall under related party transactions and the promoter group has no interest in the awarding entity.

Navratna PSU BHEL is India's largest engineering and manufacturing enterprise in the energy and infrastructure sectors. It is a leading power equipment manufacturer globally. As of 31 December 2024, the Government of India held a 63.17% stake in the company.

The company's consolidated net profit zoomed 123.34% to Rs 134.70 crore in Q3 FY25 as against Rs 60.31 crore posted in Q3 FY24. Revenue from operations grew by 32.21% year on year (YoY) to Rs 7,277.09 crore in the quarter ended 31 December 2024.