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Bondada Engineering shares soar 10% on ₹9,000 crore solar project win
Bondada Engineering's stock rose as much as 10 per cent during the day to hit an upper circuit of ₹425 per share. This compares to a 0.96 per cent advance in BSE Sensex as of 12:10 PM. This is the second time this month that the stock has hit the upper circuit breaker, the previous instance being on May 12 this year.
Shares of the company snapped their three-day losing streak on Friday and have recovered over 25 per cent from their recent lows of ₹333, which it hit earlier this month. The counter has fallen 30 per cent this year, compared to a 4.8 per cent advance in the benchmark Sensex. Bondada Engineering has a total market capitalisation of ₹4,668.17 crore.
Why did Bondada Engineering's shares rally?
The company was awarded an order worth ₹9,000 crore from the Energy Department of Andhra Pradesh for the allocation of 2,000 MW (AC) / 2,600 MWp (DC) solar power capacity across various locations in Ananthapuramu and Sri Sathya Sai districts.
The proposals received formal approval during the State Investment Promotion Board (SIPB) meeting held on May 15, 2025, it said in an exchange filing on Friday. In line with the Andhra Pradesh Integrated Clean Energy Policy – 2024, the project is to be executed within 24 months.
The allocation follows detailed project proposals submitted by the company, covering solar developments in Roddam and Kothacheruvu mandals of Sri Sathya Sai district, as well as Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala mandals in Ananthapuramu district. The said project is likely to create 3,900 employment opportunities in Andhra Pradesh.
This ₹9,000 crore order will bring Bondada Engineering's total order book to over ₹14,000 crore, according to the statement. Additionally, the company expects to generate ₹1,160 crore in revenue from its Independent Power Producer (IPP) operations beginning the financial year 2029 (FY29).
"This strategic allocation marks a significant milestone for Bondada Engineering and reaffirms our commitment to contributing to India's renewable energy ambitions through large-scale, sustainable infrastructure development," it said in the statement.
About Bondada Engineering
The company is a company based in India, primarily known for its involvement in engineering, construction, and infrastructure-related services. It is known for providing solutions in various sectors, including civil engineering, electrical, mechanical, and other related fields.
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