Waaree Renewable Technologies has won two letters of award from one of India's leading renewable energy companies to execute engineering, procurement and construction works for two ground-mounted solar PV projects. The company said the contracts cover a 400 megawatt alternating current (MWac) / 530 megawatt-peak (MWp) plant and a 400 MWac / 552 MWp plant, aggregating 800 MWac / 1,082 MWp. The orders were described as commercial awards from a domestic entity and do not involve related-party transactions.

The projects are scheduled for completion during FY2027-28 in accordance with contract terms and will be undertaken by Waaree Renewable Technologies Limited, the Waaree Group subsidiary that leads the solar EPC business. The company also operates as a developer that finances, constructs, owns and operates solar projects and has its head office in Mumbai. The contract win reinforces the firm’s footprint across utility-scale solar infrastructure and its EPC order book.

The award strengthens Waaree Renewable Technologies' position in India's utility-scale solar segment and expands its pipeline of commercial projects for industrial and commercial customer segments. The company clarified that neither the promoter group nor group companies have any interest in the awarding entity and that the contracts do not fall under related-party transactions. Execution will add substantial EPC work to the firm’s ongoing project roster.

On the results front, the company reported a decline in consolidated net profit of 25.58 per cent to Rs 115.90 crore, equivalent to 1,159.0 million (mn) for the quarter ended 30 June 2026, down from Rs 155.74 crore in the prior quarter. Revenue from operations fell 16.16 per cent quarter on quarter to Rs 924.25 crore, equivalent to 9,242.5 million (mn) in the same period. On a year on year basis the company posted growth with net profit up 34.08 per cent and revenue rising 53.22 per cent. Shares of Waaree Renewable Technologies fell 1.17 per cent to close at Rs 933.80 on the BSE.