Hot Pursuit
Bondada Engineering hit an upper circuit of 10% at Rs 425.05 after the company announced that it has secured a major government order worth Rs 9,000 crore from the Energy Department of the Government of Andhra Pradesh.
The order pertains to the allocation of 2,000 MW AC / 2,600 MWp DC of solar power capacity across various locations in the Ananthapuramu and Sri Sathya Sai districts. The allocation follows a Government Order (GO) issued under the Andhra Pradesh Integrated Clean Energy Policy'2024.
The company had earlier submitted detailed proposals for setting up solar power projects in specific villages of Roddam and Kothacheruvu Mandals (Sri Sathya Sai District) and Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala Mandals (Ananthapuramu District).
These proposals were reviewed and approved during the State Investment Promotion Board (SIPB) meeting held on May 15, 2025. The allocation is conditional, subject to ensuring that the proposed locations do not overlap with areas previously assigned for renewable energy (RE) development or wind resource assessments.
The project is to be implemented within 24 months, in accordance with the guidelines outlined in the Andhra Pradesh Integrated Clean Energy Policy'2024.
With this Rs 9,000 crore order, Bondada Engineering's total order book has expanded to over Rs 14,000 crore. Additionally, the company expects to generate estimated revenue of Rs 1,160 crore from Independent Power Producer (IPP) operations starting FY 2029.
The project will be executed through Bondada Engineering's wholly-owned subsidiary, Bondada Renewable Energy. The company has laid out a phased implementation plan for its IPP capacity: 250 MW is planned for FY 2026, followed by 750 MW in FY 2027, which is expected to generate revenue of Rs 145 crore. In FY 2028, 1,000 MW will be implemented, with projected revenue of Rs 580 crore. Beginning FY 2029, the company anticipates annual IPP revenue of Rs 1,160 crore over the next 25 years.
Additionally, the project adds Rs 9,000 crore in Engineering, Procurement, and Construction (EPC) revenue. With this development, Bondada's cumulative order book now exceeds Rs 14,000 crore, to be executed over a period of three years.
Bondada Engineering is an infrastructure company that provides engineering, procurement, and construction (EPC) services, as well as operations and maintenance (O&M) services, to customers in the telecom and solar energy industries throughout India.
On a full-year basis, the company's consolidated net profit surged 167.2% to Rs 44.73 crore on a 116.1% jump in revenue from operations to Rs 800.72 crore in FY24 over FY23.
Powered by Capital Market - Live News