The first project, titled Augmentation of Transformation Capacity at KPS1 (GIS) and KPS2 (GIS) (Phase-V Part B1 and Part B2 Scheme), involves augmentation works at under-construction substations in the state of Gujarat.
The second project, titled Augmentation of Transformation Capacity by 3x500 MVA, 400/220kV ICTs (6th - 8th) and 1x1500 MVA, 765/400kV ICT (4th) at Bidar PS, involves augmentation works at an under-construction substation in the state of Karnataka.
The company also confirmed that it received the Letter of Intent (LoI) for the respective projects on 6 January 2025.
The Power Grid Corporation of India has been established by the Government of India (GoI) as the central transmission utility of India. The firm is a Maharatna' company under the Ministry of Power, GoI. As of 30 September 2024, the Government of India owned a 51.34% stake in the company.
The company reported a 1.85% rise in consolidated net profit to Rs 3,793.02 crore in Q2 FY25 as against Rs 3,723.92 crore posted in Q1 FY25. Revenue from operations added 2.46% to Rs 11,277.76 crore in Q2 FY25 as against Rs 11,006.18 crore posted in Q1 FY25.
The scrip rose 0.39% to Rs 307.25 on the BSE.