| Metric | Value (₹ Cr) | vs Q2 FY26 |
|---|---|---|
| Revenue | 562.34 | 8.4% |
| Total Income | 567.21 | 8.6% |
| Expenditure | 556.62 | 9.2% |
| PBT | 2.88 | 64.0% |
| Net Profit | -0.42 | 111.7% |
| OPM | 3.46% | 0.26pp |
| NPM | -0.07% | 0.65pp |
| EPS | 0.04 | 87.1% |
Bajel Projects Reports Strong Quarterly Surge and Rise in EBITDA Margins in Q3 FY’26
05 Feb 2026 · 5 Feb, 5:23 pm
Summary
Bajel Projects Limited, a leader in the Power Transmission and Distribution (T&D) EPC sector, announced its financial results for the third quarter (Q3) and the nine-month period ended December 31, 2025. The company achieved a notable expansion in EBITDA margins, reflecting the success of its strategic shift towards margin-accretive growth.
Key Highlights
- 1
9-Month EBITDA reached 87 Cr, a 38% increase over the 363 Cr reported in the previous year.
- 2
EBITDA margins for the 9-month period improved to 4.8% from 3.5% YoY, a growth of 130 bps.
- 3
PBT before exceptional items for the 9-month period grew by 30%, reaching 323 Cr.
- 4
EBITDA rose to 332 Cr in Q3 FY’26, representing a 45% YoY growth.
- 5
EBITDA margins expanded by 210 basis points (2.1%), reaching 5.6% in Q3 FY’26.
- 6
PBT before exceptional items for the quarter grew by 209%, reaching 11 Cr in Q3 FY’26.
Management Comments
Rajesh Ganesh
Our nine-month performance reflects a strategic pivot towards margin-accretive growth. We have prioritized 'Quality of Earnings' over sheer volume, a move validated by a strong rise in the EBITDA for Q3. We are transitioning into a specialized power transmission EPC player, focusing on 'winning the right contracts'that align with our longer-term profitability goals. Despite a measured revenue environment, our ability to deliver profitability remains our core differentiator. Execution is our heartbeat. We continue to seamlessly commission complex projects within the Green Energy Corridor and Inter-State Transmission Systems (ISTS). Our people remain our primary driver of success.
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