Oswal Pumps Subsidiary Wins Rs 394.0 mn Rooftop Solar Contract

06 Mar 2026 CW Team

The subsidiary will execute seven point four six megawatt-peak (MWp) grid connected rooftop solar systems covering design, supply, installation, testing and commissioning for 3,729 SC and ST consumers under the Utility Led Aggregation CAPEX mode in APDISCOMs. The total order value is approximately Rs 394.0 mn inclusive of GST and includes comprehensive operation and maintenance for five years from installation. Contractual milestones and subsidy alignment are expected to drive phased revenue recognition.

Swashakthi Energy was allocated seven point four six MWp of rooftop capacity by the New and Renewable Energy Development Corporation of Andhra Pradesh and has assigned fulfilment to Oswal Solar Energy, with the awarding entity domestic and outside related party parameters. The company clarified that promoters or promoter group entities have no interest in the awarding entity. Under the Utility Led Aggregation CAPEX framework project capital expenditure is structured upfront with milestone linked payments subject to commissioning certification.

Shares of Oswal Pumps settled at Rs 306.05 on the NSE, down three point zero four per cent from the previous close of Rs 315.65, and traded between Rs 297.20 and Rs 310.30 during the session; market capitalisation was about 34.9 billion (bn) and the P/E ratio eight point three seven based on exchange data. The contract is expected to broaden the company's presence in distributed residential solar deployment under the PM Surya Ghar programme and to add to its renewable energy portfolio through the solar subsidiary, with revenues likely recognised across installation milestones and the five year operation and maintenance period.

On 2 March 2026 Oswal Pumps Limited informed the BSE and NSE that its wholly owned subsidiary Oswal Solar Energy Private Limited had been awarded a Rs 394.0 million (mn) rooftop solar contract after allocation under the Government of India PM Surya Ghar: Muft Bijli Yojana through Andhra Pradesh agencies. The disclosure was made under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations 2015. The award is part of a centrally supported residential rollout. The subsidiary will execute seven point four six megawatt-peak (MWp) grid connected rooftop solar systems covering design, supply, installation, testing and commissioning for 3,729 SC and ST consumers under the Utility Led Aggregation CAPEX mode in APDISCOMs. The total order value is approximately Rs 394.0 mn inclusive of GST and includes comprehensive operation and maintenance for five years from installation. Contractual milestones and subsidy alignment are expected to drive phased revenue recognition. Swashakthi Energy was allocated seven point four six MWp of rooftop capacity by the New and Renewable Energy Development Corporation of Andhra Pradesh and has assigned fulfilment to Oswal Solar Energy, with the awarding entity domestic and outside related party parameters. The company clarified that promoters or promoter group entities have no interest in the awarding entity. Under the Utility Led Aggregation CAPEX framework project capital expenditure is structured upfront with milestone linked payments subject to commissioning certification. Shares of Oswal Pumps settled at Rs 306.05 on the NSE, down three point zero four per cent from the previous close of Rs 315.65, and traded between Rs 297.20 and Rs 310.30 during the session; market capitalisation was about 34.9 billion (bn) and the P/E ratio eight point three seven based on exchange data. The contract is expected to broaden the company's presence in distributed residential solar deployment under the PM Surya Ghar programme and to add to its renewable energy portfolio through the solar subsidiary, with revenues likely recognised across installation milestones and the five year operation and maintenance period.

Resources

17 Apr 2026

Origen Realty appoints Poulomi Ray as CMO

Origen Realty has appointed Poulomi Ray as Chief Marketing Officer, strengthening its leadership team as it advances its growth and brand strategy. Poulomi Ray brings nearly two decades of experience in brand building and marketing across real estate and hospitality sectors, with prior roles at Signature Global, DLF Limited, Paras Buildtech, MGM International and Hilton. In her new role, she will lead marketing and brand direction at Origen Realty, focusing on visibility, differentiation and market engagement as the company progresses its integrated development plans in Gurugram. Commenting..

Building Material

17 Apr 2026

Haver & Boecker Niagara to showcase solutions at Hillhead

Haver & Boecker Niagara will showcase its mineral processing technologies at Hillhead 2026, scheduled from June 23–25 in Buxton, UK.At Stand PA3, the company will present its end-to-end solutions including screeners, screen media and advanced diagnostics, with a focus on improving efficiency, uptime and throughput for aggregates producers.Highlighting its screen media portfolio, the company will feature Ty-Wire media with hybrid design offering up to 80 per cent more open area, alongside FLEX-MAT® solutions designed to enhance wear life and throughput while reducing blinding and cloggin..

Real Estate

17 Apr 2026

CREDAI-MCHI meets Maharashtra Revenue Minister on issues

Navin’s, a Chennai-based real estate developer, has won the 17th CIDC Vishwakarma Award 2026 for its residential project Navin’s Hanging Gardens located on Arcot Road, Valasaravakkam. The award was presented by the Construction Industry Development Council (CIDC) under the category of Best Construction Projects, recognising the development’s achievement in innovation, design excellence and sustainability.The award was received by Chandrasekar PN, General Manager, Technical, Navin’s, at the ceremony held in New Delhi.Inspired by the legendary Hanging Gardens of Babylon, the project has ..