Bajel Projects Reports Sharp Profitability Rise in FY26, Recommends Maiden Dividend
Mumbai, May 28, 2026: Bajel Projects Ltd, a Bajaj Group company, has announced its audited financial results for the quarter and financial year ended March 31, 2026, delivering its strongest annual performance since listing. The company posted standalone revenue from operations of Rs. 2,792 crore for FY26, alongside a 74% year-on-year increase in Profit After Tax (PAT) to Rs. 27 crore, up from Rs. 15 crore in the previous fiscal year. Driven by this strong operational performance, the Board of Directors has recommended a maiden dividend of Rs. 0.60 per equity share, representing a 30% payout on the face value of Rs. 2.0 per share.
The company’s fourth-quarter performance showed accelerated growth, with Q4 FY26 standalone revenue rising 26% year-on-year to Rs. 1,008 crore. Quarterly PAT surged 226% to Rs. 16 crore, compared to Rs. 5 crore in Q4 FY25, while Profit Before Tax and Exceptional Items grew 193% to Rs. 19 crore. For the full year, EBITDA climbed 38% to Rs. 125 crore, with EBITDA margins expanding to 4.4% from 3.4% in FY25. The company also reaffirmed its CRISIL A/Stable and CRISIL A1 ratings, reflecting its stable financial risk profile during the centenary year of the parent Bajaj Group.
The growth momentum was supported by major domestic and international order wins in the fourth quarter. Domestically, Bajel secured an ultra-mega order valued at over Rs. 400 crore from the Maharashtra State Electricity Transmission Company Ltd. (MSETCL) and another ultra-mega order for the Vindhyachal Pool – Prayagraj project. It also bagged the Mandsaur – Beawar transmission project, valued between Rs. 100 crore and Rs. 200 crore. On the strategic front, the firm signed a tripartite arrangement with the National Investment and Infrastructure Fund (NIIF) and AnantGrid to develop domestic power transmission assets, and entered a 50:50 joint venture with Al Sharif Group to target transmission and distribution infrastructure opportunities in Saudi Arabia.
Commenting on the results, Rajesh Ganesh, Managing Director & CEO, Bajel Projects Ltd., said: “FY26 has been a defining year for Bajel, made even more special as we mark 100 years of the Bajaj Group — a century of trust, enterprise, and nation-building that we are proud to carry forward. Our standalone revenue from operations grew to Rs. 2,792 crores, while Profit After Tax grew 74% to Rs. 27 crores, reflecting a deliberate pivot toward Quality of Earnings and selective execution of high-value projects. EBITDA expanded 38% YoY to Rs. 125 crores, with margins moving from 3.4% to 4.4%. The fourth quarter marked a step-change with Profit Before Tax and Exceptional Items of Rs. 19 crores — a 193% increase over the same quarter last year. Coupled with landmark domestic wins including the MSETCL ultra-mega order, Mandsaur and Vindhyachal Pool projects, our entry into Saudi Arabia through the Al Sharif joint venture, and the collaboration agreement with NIIF, the year sets a strong foundation for sustainable, profitable growth across all our businesses”.
