+
Power Grid Wins RE Transmission Project In Karnataka
POWER & RENEWABLE ENERGY

Power Grid Wins RE Transmission Project In Karnataka

State-owned Power Grid Corporation of India on Thursday, January 8, said it has emerged as the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system aimed at integrating additional renewable energy capacity in Karnataka.

The project involves strengthening the transmission network to support renewable energy integration at Davanagere (0.25 GW) and Bellary (2.75 GW), taking the total capacity addition to 3 GW. Awarded on a build, own, operate and transfer basis, the project includes the construction of a 400 kV double-circuit transmission line traversing Karnataka, along with associated line bay works at both ends.

The scope also covers augmentation of existing infrastructure, including inter-connecting transformers and line bays at the Davanagere and Bellary pooling stations. Power Grid said it has received the letter of intent for the project on January 8.

On the financial front, Power Grid reported a 6 per cent year-on-year decline in net profit to Rs 35.66 billion in Q2 FY26, compared with Rs 37.93 billion in the same quarter last year, missing market estimates. Revenue rose 1.8 per cent year-on-year to Rs 114.76 billion from Rs 112.77 billion.

Ebitda declined 6.1 per cent to Rs 91.14 billion from Rs 97.01 billion a year earlier, while margins narrowed to 79.4 per cent from 86 per cent in the corresponding quarter. The company said margin contraction reflected higher operating costs and network expansion-related expenses.

The board of directors has approved the payment of a first interim dividend of Rs 4.50 per equity share of face value Rs 10, representing 45 per cent of the paid-up equity share capital for FY26.

Shares of Power Grid Corporation of India ended at Rs 259.25 on the BSE, down Rs 4.85, or 1.84 per cent, on January 8.

State-owned Power Grid Corporation of India on Thursday, January 8, said it has emerged as the successful bidder under tariff-based competitive bidding to establish an inter-state transmission system aimed at integrating additional renewable energy capacity in Karnataka. The project involves strengthening the transmission network to support renewable energy integration at Davanagere (0.25 GW) and Bellary (2.75 GW), taking the total capacity addition to 3 GW. Awarded on a build, own, operate and transfer basis, the project includes the construction of a 400 kV double-circuit transmission line traversing Karnataka, along with associated line bay works at both ends. The scope also covers augmentation of existing infrastructure, including inter-connecting transformers and line bays at the Davanagere and Bellary pooling stations. Power Grid said it has received the letter of intent for the project on January 8. On the financial front, Power Grid reported a 6 per cent year-on-year decline in net profit to Rs 35.66 billion in Q2 FY26, compared with Rs 37.93 billion in the same quarter last year, missing market estimates. Revenue rose 1.8 per cent year-on-year to Rs 114.76 billion from Rs 112.77 billion. Ebitda declined 6.1 per cent to Rs 91.14 billion from Rs 97.01 billion a year earlier, while margins narrowed to 79.4 per cent from 86 per cent in the corresponding quarter. The company said margin contraction reflected higher operating costs and network expansion-related expenses. The board of directors has approved the payment of a first interim dividend of Rs 4.50 per equity share of face value Rs 10, representing 45 per cent of the paid-up equity share capital for FY26. Shares of Power Grid Corporation of India ended at Rs 259.25 on the BSE, down Rs 4.85, or 1.84 per cent, on January 8.

Related Stories

Gold Stories

Next Story
Real Estate

Peninsula Land launches 19 luxury villas in Pune

Pune’s residential landscape is witnessing a shift as premium homebuyers increasingly seek larger spaces, privacy and independent living options beyond high-rise apartments. Addressing this demand, Peninsula Land Limited, part of the Ashok Piramal Group, has launched AshokVillas, an exclusive collection of 19 premium furnished villas in Gahunje, Pune.The development combines the independence of a standalone home with the convenience and security of a managed residential community. Designed around low-density horizontal living, AshokVillas offers residents private spaces while providing acces..

Next Story
Infrastructure Urban

MyBranch Expands South India Network with 16 Workspace Centres

MyBranch has expanded its South India presence with a 50,000 sq ft flexible workspace network comprising 16 centres across 14 cities in Andhra Pradesh, Karnataka, Tamil Nadu and Telangana.The expansion reflects growing demand for flexible office infrastructure as businesses establish regional teams, satellite offices and operations beyond traditional metropolitan markets. MyBranch’s network spans Bengaluru, Coimbatore, Guntur, Hanamkonda, Hubballi, Hyderabad, Madurai, Mangaluru, Rajahmundry, Salem, Tirupati, Vellore, Vijayawada and Visakhapatnam, with a large office space in Chennai also und..

Next Story
Building Material

Walplast Launches Moisture-Resistant Gypsum Plaster Solutions

Walplast Products Pvt. Ltd. has expanded its HomeSure GypEx portfolio with the launch of GypEx MoistShield and GypEx Gold, two gypsum plaster solutions designed to address moisture-prone applications and improve plastering efficiency.The new products have been developed in response to the growing demand for faster construction processes, improved material performance and consistent surface quality. The solutions aim to simplify interior plastering while addressing specific application requirements across construction environments.“Through HomeSure GypEx MoistShield and GypEx Gold, we are exp..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code