Stock Below Rs 100: Infrastructure Services Company Secures Rs 2,050 Crore Power Plant O&M Contract From BALCO; Share Price Jump 11%

On Friday, Indian equity benchmarks ended lower, with the benchmark Nifty 50 index declining 0.21 per cent to close at 23,366.70. Despite the weak market sentiment, Bluspring Enterprises share price surged 11.40 per cent to Rs 93.35 after the company announced a major long-term contract win through its subsidiary.

Subsidiary Secures Rs 2,049.8 Crore Contract

Bluspring Enterprises informed the stock exchanges that its wholly-owned step-down subsidiary, STEAG Energy Services (India) Private Limited, has been awarded a comprehensive operations and maintenance (O&M) contract for a 1,740 MW power plant owned by Bharat Aluminium Company Limited (BALCO).

The contract carries an estimated aggregate value of Rs 2,049.8 crore, including additional services, and is scheduled to commence from July 1, 2026. The agreement will remain in force for a period of 60 months.

Scope Of The Contract

Under the mandate, STEAG Energy Services (India) will provide comprehensive operations and maintenance services for BALCO's 1,740 MW power generation facility.

The order has been awarded by a domestic entity and represents a significant addition to the company's power plant management portfolio. The contract also provides a multi-year revenue stream and strengthens its presence in the industrial asset management segment.

Bluspring Enterprises clarified that neither the company nor its promoter group has any interest in BALCO and that the transaction does not fall under related-party transactions.

Strengthens Industrial Asset Management Portfolio

The latest order further strengthens STEAG Energy Services (India)'s position in the large-scale power plant operations and maintenance business. The 1,740 MW facility is among the larger industrial captive power generation assets in the country, highlighting the scale and operational significance of the engagement.

The contract is expected to enhance the subsidiary's order book visibility and support long-term revenue generation from the power sector.

About Bluspring Enterprises

Bluspring Enterprises Limited was established in February 2024 following the demerger of infrastructure services businesses from Quess Corp. The company operates as an integrated infrastructure management services provider with a presence across facility management, security services, food and catering, telecom network services and industrial asset management.

Headquartered in Bengaluru, the company serves more than 1,000 clients across 28 states and 34 cities. It manages over 360 million square feet of infrastructure assets and has a workforce of approximately 87,683 professionals.

The company continues to focus on technology-led service delivery and operational efficiency through investments in AI-enabled workforce and infrastructure management solutions.

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Disclaimer: The article is for informational purposes only and not investment advice.