Bondada Engineering Ltd. has recently made headlines by securing a significant order worth ₹390 crore from the Maharashtra State Power Generation Company (MAHAGENCO). This marks the company’s third order from the state-run discom within a short span of just three days, reflecting its strong presence in the renewable energy sector.

The Letter of Award from MAHAGENCO includes responsibilities for design, engineering, manufacture, supply, erection, testing, and commissioning of a Crystalline Solar PV technology Grid interactive Solar PV power plant. Additionally, Bondada Engineering will handle the associated power evacuation arrangement and provide five years of operation and maintenance services at various locations across Maharashtra.

This latest order signifies the fourth contract Bondada Engineering has secured in the past month alone. On September 18, the company received a ₹10 crore order from Bharti Airtel, followed by another order worth ₹467 crore from the same client just days later. Notably, on October 11, Bondada Engineering announced the receipt of two additional orders from MAHAGENCO, amounting to ₹763.16 crore and ₹360.08 crore, respectively.

In total, Bondada Engineering has won contracts worth nearly ₹2,000 crore in the last month, which represents approximately one-third of its current market capitalisation nearing ₹6,500 crore. This remarkable achievement showcases the company's ability to capture significant opportunities within the engineering, procurement, and construction (EPC) services sector, particularly in solar energy projects.

Despite these positive developments, shares of Bondada Engineering experienced a 5% decline on Monday, trading at ₹582.25. However, it is important to note that the stock has surged over 1,000% in the last 12 months, rising from ₹80 at the beginning of the year to record highs of ₹754, before experiencing a slight correction.

As an EPC service provider, Bondada Engineering specializes in the construction of cell sites, tower foundations, electrical works, and structural aerial projects. The company’s strong focus on the renewable energy sector has positioned it well to leverage the growing demand for solar energy solutions in India.

Investors and industry stakeholders are closely watching the progress of Bondada Engineering as it embarks on the execution of these significant contracts. With a solid pipeline of orders and a commitment to delivering high-quality engineering solutions, Bondada Engineering is poised for continued success in the rapidly evolving renewable energy landscape.

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