Bajel Project surges after JV arm emerges as L-1 bidder for inter-state transmission project in Gujarat

AnantGrid Projects One was declared the successful bidder following a reverse auction held on 6?7 August 2026 under the tariff-based competitive bidding (TBCB) route.

The project involves construction of approximately 270 km of 765 kV double-circuit transmission lines from Halvad to Vadodara in Gujarat, along with additional works at the Halvad, Vadodara and South Olpad substations.

In March 2026, National Investment and Infrastructure Fund (NIIF), a sovereign-linked alternative asset manager anchored by the Government of India signed a collaboration agreement with Bajel Projects, part of the Bajaj Group, and AnantGrid, a power transmission developer promoted by NIIF, to jointly pursue power transmission opportunities of mutual interest in India, to be undertaken through the tariff based competitive bidding (TBCB) route.

Accordingly. Bajel Project holds 26% stake in AnantGrid Projects One and the remaining 74% is held by National Investment and Infrastructure Fund.

Bajel Projects is a leading company in the business of power infrastructure, with a strong domestic and international presence in the power transmission and new energies sectors.

The company's net profit rose 59.80% to Rs 4.73 crore in Q1 FY27 from Rs 2.96 crore in Q1 FY26. However, sales declined 7.11% to Rs 558.63 crore from Rs 601.36 crore during the corresponding quarter of the previous year.

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