Bharat Heavy Electricals (BHEL) has secured four domestic orders from Adani Power for thermal power projects, with each contract valued between Rs. 50 bn and Rs. 70 bn. The orders cover the supply of equipment and related services for projects being developed to meet Adani Power’s requirements.

Each of the four projects will have a capacity of 2x800 MW. Together, the contracts cover 6,400 MW of thermal generation capacity, while the aggregate order value could reach Rs. 280 bn at the upper end of the disclosed range. The value excludes goods and services tax.

Under the contracts, BHEL will supply boilers, turbines and generators, along with associated auxiliaries. The state-owned engineering company will also provide services specified in the project terms, although the release did not disclose individual project locations or execution schedules.

BHEL said the orders were domestic and did not involve related-party transactions. It also stated that its promoter group had no interest in the entity awarding the contracts, providing details on the nature of the arrangements with Adani Power.

BHEL reported a net profit of Rs. 8.21 bn for the second quarter of FY27, more than double the Rs. 3.75 bn recorded in the preceding quarter. Revenue for the July-September quarter rose nearly 24 per cent sequentially to Rs. 93 bn from Rs. 75.12 bn in Q1 FY27. The quarterly financial statements include the company’s joint ventures, BHEL-GE Gas Turbines and Bharat Coal Gasification and Chemicals.

BHEL shares rose nearly 6 per cent in intraday trading on November 4 after the order announcement. The stock had gained about 19 per cent over the preceding six months, according to market data cited in the report.