Bajel Projects Reports 54.7% Surge in Standalone Q1 FY27 Profit Before Tax Driven by Record Order Book
Mumbai, August 9, 2026: Bajel Projects Ltd, a power transmission EPC company under the Bajaj Group, announced its financial results for the first quarter ended June 30, 2026, highlighting significant bottom-line growth despite a slight moderation in operational revenues. The company recorded a standalone profit before tax of Rs 6.9 crore for Q1 FY27, marking a 54.7% year-on-year increase compared to Rs 4.4 crore reported in Q1 FY26, Bajel Projects said in a press release.
The earnings growth was backed by an unexecuted order book reaching Rs 4,055 crore, the highest level recorded since the company’s demerger from Bajaj Electricals in 2023. This 12.3% year-on-year growth in the order pipeline reflects Bajel Projects’ recent strategic expansion into the data center segment and its international market entry into the Middle East and North Africa (MENA) region.
On a standalone basis, total revenue from operations for the quarter stood at Rs 566.9 crore compared to Rs 607.6 crore in Q1 FY26, representing a 6.7% decline. Profit after tax rose 37.2% year-on-year to Rs 4.5 crore, up from Rs 3.3 crore, while basic earnings per share increased to Rs 0.39 from Rs 0.29 in the corresponding quarter of the previous year. EBITDA was reported at Rs 23.6 crore against Rs 24.9 crore in Q1 FY26, though the EBITDA margin expanded by 7 basis points to 4.17%.
On a consolidated level, total revenue from operations matched the standalone performance at Rs 566.9 crore. Consolidated profit before tax rose 72.8% year-on-year to Rs 7.1 crore, up from Rs 4.1 crore, while consolidated profit after tax increased by 60.1% to Rs 4.7 crore compared to Rs 3.0 crore in Q1 FY26. Basic consolidated EPS stood at Rs 0.41 against Rs 0.26 in the prior-year period.
Company officials noted that while top-line revenue moderated in line with typical project execution phasing, profitability improved significantly due to tighter operational controls. The consolidated profit after tax margin widened to 0.84% in Q1 FY27 from 0.49% in Q1 FY26, supported by enhanced working capital management. During the quarter, Bajel Projects also expanded its corporate footprint by acquiring an equity stake in Anant Grid Projects One Private Limited pursuant to a collaboration agreement, classifying the entity as an associate.
Commenting on the results, Rajesh Ganesh, MD & CEO, Bajel Projects Ltd., said, “Our Q1 FY27 performance reflects the underlying strength of our execution engine, with standalone profit after tax growing 37% year-on-year even as revenue phasing moderated in line with project execution timelines. The improvement in margins underscores the discipline we are bringing to project delivery and cost management across our portfolio. We have ended this quarter with our highest ever unexecuted order book since listing. As we move through FY27, we remain confident in our ability to convert our order book into sustained, profitable growth.”
