Rs 15,000 crore order book: Solar Company Secures Rs 391 Crore Solar EPC Order from NTPC Green Energy

Bondada Engineering Limited on December 26, 2025, announced that it has received a Letter of Award (LOA) worth Rs 391 crore from NTPC Green Energy Limited (NGEL). This marks a key milestone for the company, as it is Bondada Engineering’s first-ever order from the renewable energy arm of state-run NTPC.

The order pertains to Balance of System (BOS) works for a 300 MW Solar photovoltaic project located at Lalitpur. The project will be executed under the Engineering, Procurement and Construction (EPC) mode. The scope of work includes design and engineering, site development, manufacturing and inspection of equipment, supply of components, insurance, transportation, storage, erection and installation, as well as testing and commissioning of the entire 300 MW capacity. In addition, the company will undertake operations and maintenance services for a period of three years after project completion.

The total value of the contract stands at Rs 391.38 crore, inclusive of GST. As per the terms of the LOA, Bondada Engineering is required to complete the execution of the project within 15 months from the date of award.

Management stated that the order significantly strengthens the company’s order book, which now stands at approximately 3.3 GW of total EPC projects. The contract is expected to support medium-term revenue growth and further strengthen Bondada Engineering’s presence in large-scale utility solar infrastructure projects.

The Hyderabad-based company also clarified that neither its promoters nor any group entities have any interest in NTPC Green Energy Limited. The transaction does not qualify as a related party transaction. The project is expected to contribute meaningfully to the company’s revenue and profitability during the execution period.

About the Company

Incorporated in 2012, Bondada Engineering Limited delivers comprehensive engineering, procurement, and Construction (EPC) and operations and maintenance (O&M) services primarily for the telecom and solar energy sectors, boasting partnerships with major telecom companies like Reliance Jio and Airtel, having successfully installed over 12,500 telecom towers and a 4,300 km OFC network; the company's manufacturing capabilities extend to telecom and transmission towers, solar MMS, and building materials under brands like Smartfix, alongside lifestyle products such as uPVC and aluminium doors and windows, and they further provide extensive O&M services for both telecom infrastructure and solar power plants, managing a solar O&M portfolio of 20 MW.

The company has a market cap of over Rs 4,100 crore and the Order Book as of September 30, 2025, stands at Rs 15,000 crore. The stock is up 14 per cent from its 52-week low of Rs 330 per share. The company's shares have an ROE of 37 per cent and an ROCE of 40 per cent.

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