Oswal Pumps bags Bihar rooftop solar projects worth over Rs 500 cr under PM Surya Ghar scheme

The company said the contracts were awarded by North Bihar Power Distribution Company (NBPDCL) and South Bihar Power Distribution Company (SBPDCL) and cover 57,492 consumer installations across the Motihari, Saharsa and Ara circles.

The projects comprise an installation order value of around Rs 247 crore and are expected to generate an additional Rs 257 crore in revenue from energy supply over a 10-year period. The cumulative revenue opportunity from the projects exceeds Rs 500 crore.

The development strengthens Oswal Pumps' presence beyond its traditional PM Kusum-linked business and supports its strategy to diversify into large-scale residential rooftop solar deployment under the PM Surya Ghar programme.

The company said the projects would enhance long-term revenue visibility through annuity-style income streams under the Renewable Energy Service Company (RESCO) model while reducing dependence on PM Kusum-driven demand.

Under the programme, beneficiary households are expected to receive nearly 15,000 units of solar power over the contract period, helping lower dependence on conventional grid supply and reducing electricity costs.

The projects will be executed under a CAPEX-plus-RESCO model, with Oswal Pumps responsible for design, engineering, procurement, installation, commissioning, financing, and operations and maintenance for a period of 10 years.

The company expects all installations to be commissioned within nine months from the execution of the power purchase agreements (PPAs).

Commenting on the orders, Vivek Gupta, Chairman and Managing Director, Oswal Pumps, said ?This award represents a pivotal milestone for Oswal Pumps as we scale our participation in the PM Surya Ghar programme and strengthen our position in the distributed solar ecosystem. It not only underscores our execution capabilities but also marks a strategic shift towards diversifying revenue streams beyond PM Kusum. We remain committed to delivering high-quality installations and supporting India?s transition toward clean, decentralised energy.?

Oswal Pumps manufactures solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors, and solar modules, which it sells under the ?Oswal? brand.

The company?s consolidated jumped 43.9% to Rs 91.95 crore on 39.8% increase in revenue from operations to Rs 509.74 crore in Q4 FY26 over Q4 FY25.

Shares of Oswal Pumps soared 6.81% to end at Rs 398.35 on the BSE.

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