GE T&D India Sees 112% Surge in FY24 Order Bookings
POWER & RENEWABLE ENERGY

GE T&D India Sees 112% Surge in FY24 Order Bookings

GE T&D India has reported a remarkable 112% increase in order bookings for FY24, with the total orders reaching 20.882 Billion. This significant growth highlights the company's strong performance and ability to capture opportunities in India's growing power market. The orders in the second quarter alone surged to Rs.18.16 billion, more than double the Rs.486 crore recorded in the same period last year.

The company has secured several key projects, including contracts from Sterlite Power for supply of high-voltage reactors, Adani Energy Solutions for constructing GIS substations, and export orders to Senegal. Additionally, orders from Tata Motors and other EPC customers have bolstered their portfolio.

In terms of financial performance, GE T&D India's revenue rose by 14%, driven by the robust order inflow and successful execution of key projects. Some of the notable projects commissioned during this period include 765kV substations for the Adani Group and 220kV GIS substations for the Uttar Pradesh Power Transmission Corporation.

The order backlog as of September 30, 2023, stood at ?43.37 billion, with private utilities contributing 75%, central utilities 15%, and state utilities 10%. According to Sandeep Zanzaria, Managing Director & CEO of GE T&D India, the company's performance reflects its expertise and innovative solutions, aligning with India?s energy transition needs and government initiatives on renewable energy.

This growth positions GE T&D India as a key player in the power transmission and distribution sector, well-equipped to meet the evolving demands of the market.

GE T&D India has reported a remarkable 112% increase in order bookings for FY24, with the total orders reaching 20.882 Billion. This significant growth highlights the company's strong performance and ability to capture opportunities in India's growing power market. The orders in the second quarter alone surged to Rs.18.16 billion, more than double the Rs.486 crore recorded in the same period last year. The company has secured several key projects, including contracts from Sterlite Power for supply of high-voltage reactors, Adani Energy Solutions for constructing GIS substations, and export orders to Senegal. Additionally, orders from Tata Motors and other EPC customers have bolstered their portfolio. In terms of financial performance, GE T&D India's revenue rose by 14%, driven by the robust order inflow and successful execution of key projects. Some of the notable projects commissioned during this period include 765kV substations for the Adani Group and 220kV GIS substations for the Uttar Pradesh Power Transmission Corporation. The order backlog as of September 30, 2023, stood at ?43.37 billion, with private utilities contributing 75%, central utilities 15%, and state utilities 10%. According to Sandeep Zanzaria, Managing Director & CEO of GE T&D India, the company's performance reflects its expertise and innovative solutions, aligning with India?s energy transition needs and government initiatives on renewable energy. This growth positions GE T&D India as a key player in the power transmission and distribution sector, well-equipped to meet the evolving demands of the market.

Next Story
Infrastructure Urban

CPRL To Double McDonald's Stores To 600 By 2030

Connaught Plaza Restaurants (CPRL), the master franchiser for McDonald's in north and east India, plans to invest up to Rs 12.8 billion over the next three to four years to expand its network. The store count will rise from 245 to 300 by end-2025 and reach 500 to 600 outlets by 2030, according to Vice Chairman Anant Agarwal.CPRL, part of the $ 1.2 billion MMG Group, is also expanding McCafe, McDonald’s in-store cafe brand, from 125 to 200 outlets by the end of this year. The company focuses on modernising stores into the Experience of the Future format and entering Tier III and smaller citie..

Next Story
Infrastructure Urban

Jharkhand CM Invites Spanish Firms to Explore Investment Opportunities

Jharkhand Chief Minister Hemant Soren, on an official visit to Spain and Sweden, invited Spanish businesses and industries to invest in Jharkhand. During the visit, the Government of Jharkhand received a proposal from RCD Espanyol Football Club to sign a Memorandum of Understanding for the training of football coaches, aiming to boost sports development in the state.A high-level delegation led by the Chief Minister interacted with Indian-origin business leaders and experts across sectors such as clean energy, supply chain, environmental sustainability, biopharmaceuticals, and MedTech. Discussi..

Next Story
Infrastructure Transport

Banashankari Skywalk Project Finally Set to Improve Commuter Access

The Bangalore Metro Rail Corporation (BMRCL) has initiated the long-delayed Banashankari skywalk project, aiming to enhance pedestrian safety and last-mile connectivity at the busy South Bengaluru junction. A tender has been floated for the project, with an estimated cost between Rs 500 million and Rs 550 million.The skywalk will link Banashankari Metro Station, the TTMC bus terminal, and the Banashankari Temple, easing congestion at one of South Bengaluru’s most crowded intersections. A contractor will be selected through the tendering process, with construction to be completed within 15 mo..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?