Bondada Engineering shares hit upper circuit on fresh order win

Shares of Bondada Engineering hit upper circuit in the afternoon session today after the firm said it has secured a LOA from Tamil Nadu Green Energy Corporation (TNGECL) for setting up of Battery Energy Storage Systems (BESS).  Bondada Engineering stock rose 5% to Rs 466.30 against the previous close of Rs 444.10 on BSE. Market cap of the firm stood at Rs 5130 crore. It closed at the same level on Tuesday. 

The value of the order is Rs 836 crore. 

"We are delighted to inform that this is highest storage capacity order in the history of the Company in BESS business line marking a significant step towards creating bigger battery energy storage systems as a part of Company's vision to reach 10GW capacity in green space by 2030", said the company.

The project will deploy standalone grid-scale BESS facilities with a total capacity of 400 MWh at key locations Vellalaviduthi and Thennampatty in Tamil Nadu State. The initiative is aimed at boosting grid stability, integrating renewable energy, and managing peak power demand accelerating Tamil Nadu's clean energy transition.

The project will be executed under the build-own-operate (BOO) model, with Bondada Group emerging as the successful bidder through a competitive tendering process conducted by TNGECL.

"This project marks a key milestone for Bondada Group in the energy storage segment and reflects our strong commitment to advancing India’s clean energy ecosystem." added the firm.  

The order comes a day after the firm won an order from d Microsoft India. It relates to Operations of Data Center at Hyderabad with a project value of Rs 2.71 crore. 

Bondada Engineering is engaged in business of providing EPC services and O&M services for telecom and solar sector and manufacturing of telecom towers.