Power Grid emerges as successful bidder for inter-state transmission project in Madhya Pradesh

Power Grid Corporation of India (POWERGRID) announced that it has declared the successful bidder under the Tariff Based Competitive Bidding process for the establishment of an Inter-State Transmission System.

The project, titled ?Transmission System for Evacuation of Power from Mahan Energen Limited Generating Station,? will be developed under the Build, Own, Operate, and Transfer (BOOT) model. It involves the construction of a 400kV double circuit (D/C) transmission line and associated bays at the existing Rewa PS (PG) sub-station in Madhya Pradesh.

The company received the Letter of Intent (LoI) dated 31 March 2025, on 1 April 2025, confirming its successful bid.

Meanwhile, the company announced that a meeting of the committee of directors for bonds is scheduled for Friday, 4 April 2025, to consider the issuance of unsecured, non-convertible, non-cumulative, redeemable, taxable bonds under the name ?POWERGRID Bond - LXXXI (81st) Issue.

The Power Grid Corporation of India was established by the Government of India (GoI) as the central transmission utility of India. The company is a 'Maharatna' firm under the Ministry of Power, GoI. As of 31 December 2024, the Government of India owned a 51.34% stake in the company.

The company?s consolidated net profit declined by 4.1% to Rs 3,861.63 crore in Q3 FY25, compared to Rs 4,028.25 crore posted in Q3 FY24. Revenue from operations fell 2.7% year-on-year (YoY) to Rs 11,233.03 crore in the quarter ended 31 December 2024.

Shares of Power Grid Corporation of India declined 1.02% to Rs 286.30 on the BSE.

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