JBM Ecolife Secures Rs 55 Bn Contract for 1,021 E-Buses

22 Feb 2025 CW Team

JBM Ecolife Mobility Pvt , a subsidiary of JBM Auto, has secured a significant contract from Convergence Energy Services Ltd (CESL) for the supply, operation, and maintenance of 1,021 electric buses under the PM-eBus Sewa Scheme (Tender-II). Valued at Rs 55 billion, the project also includes the development of electric and civil infrastructure on a Gross Cost Contracting (GCC) basis. These e-buses will be deployed across 19 cities in Gujarat, Maharashtra, and Haryana, with the project set for completion within 12 to 18 months. A Payment Security Mechanism (PSM) has been put in place to ensure timely payments to e-bus operators, strengthening financial sustainability for industry stakeholders. Over the next 12 years, these buses are expected to clock more than 32 billion passenger e-kilometres while saving over 1 billion tonnes of CO2 emissions. This contract strengthens JBM’s already robust order book, which now stands at over 11,000 electric buses in various stages of execution, aligning with the company’s Net Zero 2040 vision.

JBM Auto Ltd, one of India’s leading automotive and electric vehicle companies, has reported steady growth in its Q3FY25 financial results. The company posted a net profit of Rs 524.2 billion, reflecting a 7.80% increase from Rs 486.3 million in Q3FY24. Total sales, including operating income, rose to Rs 13.96 billion, marking a 3.71% increase from Rs 13.46 billionin the corresponding quarter last year. Earnings per share (EPS) for Q3FY25 rose to Rs 4.45, compared to Rs 4.12 in the same quarter of the previous year. This latest contract win, coupled with strong financial performance, reinforces JBM Auto’s leadership in India’s electric mobility sector and highlights its commitment to sustainable urban transport and clean energy solutions.

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