The contract was awarded through domestic competitive bidding and covers the design, engineering, manufacture, testing, supply, erection and commissioning of gas insulated switchgear (GIS) equipment for augmentation of transformation capacity at three POWERGRID substations.
The project involves the 400/220 kV Magarwada GIS substation in Dadra & Nagar Haveli, the 765/400/220 kV Vadodara GIS substation in Gujarat, and the 400/220 kV Rajgarh substation in Madhya Pradesh. It also includes the construction of 400/220 kV GIS bays and allied works under two integrated contracts covering the supply of goods and services.
The company said the project will strengthen the inter-regional power transmission network, enhance grid reliability and improve power evacuation capacity across Gujarat, Madhya Pradesh, and the Union Territory of Dadra & Nagar Haveli and Daman & Diu. It is also expected to support rising power demand driven by industrial and commercial growth while reinforcing the resilience of India's national power grid.
Rakesh Markhedkar, Chairman & Managing Director, Vikran Engineering, said: “Winning this order from POWERGRID is a testament to the confidence our clients continue to place in Vikran Engineering's engineering capabilities and execution track record. This project reinforces our longstanding relationship with POWERGRID and strengthens our footprint in the high-voltage GIS substation segment, an area where we continue to build deep technical expertise. As India's power demand continues to rise, augmenting transformation capacity at critical transmission nodes becomes essential to grid stability and reliability. We remain committed to delivering this project with the same quality, precision and timely execution that our clients have come to expect from us, while continuing to strengthen our order book and expand our presence in the transmission EPC space.”
Vikran Engineering is a diversified EPC player with expertise across Power Transmission & Distribution, Water Infrastructure, and Railway Electrification, supported by emerging capabilities in Solar EPC and Smart Metering. The company provides end-to-end turnkey solutions spanning conceptualization, design, supply, installation, testing, and commissioning, enabling it to capture the full value chain of project execution.
Power Grid Corporation of India is a Maharatna CPSU and India's largest electric power transmission company. The company had reported a 9.7% YoY rise in consolidated net profit to Rs 4,546.33 crore in Q4 FY26, compared with Rs 4,142.87 crore in Q4 FY25. Revenue from operations declined 5% YoY to Rs 11,665.61 crore in the quarter ended 31 March 2026. The scrip shed 0.65% to Rs 283.85 on the BSE.
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