Waaree Energies Faces Tax Inspection Amid Major Solar Module Order

28 Feb 2025 CW Team

Shares of Waaree Energies are set to be in focus after the company disclosed a tax inspection initiated by Mumbai’s Assistant Commissioner of State Tax.

In an exchange filing, Waaree Energies stated that officials conducted a search at its registered office and that of its subsidiary, Waaree Renewable Technologies.

“This is to inform you that, on February 25, 2025, the Assistant Commissioner of State Tax, Mumbai, initiated a search/inspection at the registered office of the Company and its subsidiary Waaree Renewable Technologies Limited. The search commenced at 3.45 pm and concluded at 8.00 pm, to be continued on the next day,” the company said.

The company has not disclosed the reason behind the inspection. It confirmed that authorities have sought operational details, and it is in the process of submitting the requested information.

“The search is ongoing, and the authorities have not issued any official document in this regard. The proceedings are ongoing, and the company is fully cooperating in providing the data as requested,” the company added.

Waaree Energies assured investors that its regular business activities remain unaffected, though the financial impact, if any, is yet to be determined.

Secures 410 MWp Solar Module Order Amid the tax inspection, Waaree Energies announced a significant order from ABREL EPC, a subsidiary of Aditya Birla Renewables, for the supply of 410 MWp solar PV modules.

“The company has received an order for the supply of solar modules for 410 MWp from ABREL EPC Limited (a wholly owned subsidiary of Aditya Birla Renewables Limited), engaged in the business of owning, developing, and operating renewable power projects in India,” Waaree stated.

The supply of these modules will commence in FY 2025-26.

Infrastructure Urban

06 Apr 2026

CFI Appoints New National Council for FY27 and FY28

The Construction Federation of India (CFI) has announced its newly elected National Council and office bearers for a two-year term covering FY27 and FY28. M. V. Satish, Advisor to CMD and Lead Ambassador for Middle East, L&T, has been elected President; Priti Patel, Chief Strategy & Growth Officer, Tata Projects, has been appointed Vice President; and Ajit Bhate, Managing Director, Precast India Infrastructures, has taken charge as Treasurer.The newly formed National Council brings together senior leaders from major EPC and infrastructure companies, reflecting CFI’s continued focus o..

India REIT Market Gains Momentum with Strong Returns

India’s Real Estate Investment Trust (REIT) market is witnessing strong growth, emerging as a competitive investment avenue both domestically and across Asia. According to a recent ANAROCK report released at EXCELERATE 2026 by NAREDCO Maharashtra NextGen, the sector is evolving into a mature asset class driven by solid fundamentals, regulatory backing and rising investor confidence.The introduction of Small and Medium REITs (SM REITs) in 2025 has further widened access through fractional ownership, unlocking a potential monetisation opportunity of Rs 670–710 billion. Indian REITs have deli..

G R Infraprojects Secures Rs 4,130 Million BESS Contract From NTPC

G R Infraprojects said it has secured a contract from NTPC to supply and implement a battery energy storage system (BESS) valued at Rs 4,130 million (mn). The company reported the order was awarded as part of NTPC's ongoing efforts to enhance grid flexibility and energy storage capacity. The contract represents a notable addition to the firm's project pipeline and underscores demand for utility scale storage solutions. The award is expected to strengthen G R Infraprojects' presence in the energy infrastructure sector and to contribute to the firm's order book and future revenues, subject to st..