Shares of Bondada Engineering climbed over 3% on December 5, following the announcement of a major ₹1,089 crore order from the Bihar Renewable Energy Development Agency. This project is part of the Mukhyamantri Gramin Solar Street Light Yojana and involves the design, supply, installation, testing, and commissioning of smart solar street light systems with remote monitoring capabilities.
The project will be executed on an EPC basis along with a five-year maintenance contract. The stipulated time to complete the project is 18 months from the execution date of the agreement.
Shares of Bondada Engineering traded at ₹601.50 at 11:36 am on the NSE. The stock has seen stellar returns, rallying over 650% in the year so far and a whopping 1,730% since its listing in September 2023.
Recent Order Wins Boosting Growth
The company has been on an impressive order-winning streak. It recently secured two additional contracts under the MSKVY 2.0 scheme in Maharashtra, totaling ₹1,132 crore.
- First Contract (₹763.16 crore): This involves the design, engineering, supply, erection, testing, and commissioning of crystalline ground-mounted solar PV power plants, including three years of operation and maintenance, at a 33/11 kV capacity.
- Second Contract (₹369.08 crore): Similar in scope, excluding PV module supply (provided by MAHAGENCO), also includes a three-year operation and maintenance period.
Both projects aim to solarise agricultural feeders in Maharashtra.
Bondada Engineering’s consistent order wins and its growing portfolio of renewable energy projects position the company for sustained growth in the rapidly expanding green energy sector.
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Source: Moneycontrol
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