POWERGRID Wins ₹823 Crore Gujarat Transmission Project
Power Grid Corporation of India Ltd (POWERGRID) has emerged as the successful bidder under the Tariff Based Competitive Bidding (TBCB) process for an inter-state transmission project supporting renewable energy development in Gujarat, with a discovered tariff of ₹822.91 crore per annum.
The project, for which the company received the Letter of Intent (LoI) on August 21, 2026, will be developed on a Build, Own, Operate and Transfer (BOOT) basis and is designed to integrate 5,500 MW of renewable energy capacity from the Jam Khambhaliya Renewable Energy Zone under Phase II and 1,000 MW under Jamnagar Phase I.
The scope includes a new Gas Insulated Substation (GIS) at Kalyanpur, ICT augmentation and bay extension works at substations under construction in Gujarat, along with 765 kV transmission lines across the state. Meanwhile, POWERGRID reported a Q1 FY27 profit of ₹3,598.42 crore for the quarter ended June 30, 2026, marginally lower by 0.9% from ₹3,630.58 crore in Q1 FY26, while revenue from operations increased 2.7% year-on-year to ₹11,496.72 crore from ₹11,196.22 crore.
Its core transmission segment reported revenue of ₹10,929.16 crore compared with ₹10,694.66 crore a year earlier, while consultancy revenue rose to ₹518.73 crore from ₹405.92 crore; telecom revenue declined to ₹251.77 crore from ₹289.49 crore. Total expenses stood at ₹7,111.66 crore against ₹7,114.23 crore in the corresponding quarter.
Overall, the development adds a significant renewable-energy transmission project to POWERGRID’s portfolio, while the quarterly numbers show modest revenue growth alongside broadly stable profitability.