Jyoti Structures Limited (JSL), a Mumbai-based power transmission engineering, procurement and construction (EPC) company, has received two Notifications of Award (NOA) worth ₹949.35 crore, excluding GST, from Power Grid Corporation of India Limited (POWERGRID). The orders cover the Rajasthan packages TL01 and TL02 of the planned ±800 kV high-voltage direct current (HVDC) bipole line from Barmer-II to South Kalamb in Maharashtra. JSL disclosed the awards on 26 October 2026. The scheme is designed to evacuate 6 GW of solar power from the Barmer complex.
Key Details of the Orders
According to JSL’s Regulation 30 intimation to the stock exchanges, the awards are split into two lots:
- Lot 1: ₹474.85 crore, excluding GST
- Lot 2: ₹474.50 crore, excluding GST
- Location: Rajasthan
- Scope: supply, erection, testing and commissioning of the ±800 kV HVDC transmission line on a total turnkey basis
- Completion period: 38 months from the date of the NOA
The filing names packages TL01 and TL02 but does not say which lot covers which package. It also does not give the date of the NOAs, the length of line in each package, the number of towers or the payment terms. JSL said none of its promoter or group companies has any interest in POWERGRID, and the order is not a related party transaction.
The awards follow a Letter of Award from Gujarat Energy Transmission Corporation Limited (GETCO), disclosed on 23 October 2026, for the 765 kV double-circuit Pachchham–Saykha line. That order is worth ₹689.93 crore and is due within 42 months. Together, the two awards announced three days apart are worth ₹1,639.28 crore, excluding GST.
The Barmer-II–South Kalamb Project
The line belongs to the scheme “Transmission system for evacuation of power from Rajasthan REZ Ph-IV (Part-5: 6 GW) [Barmer Complex] Barmer-II: 6 GW (Solar)”, specified in a line-commutated converter (LCC) configuration. POWERGRID was declared the successful bidder under tariff-based competitive bidding (TBCB) and received the Letter of Intent (LoI) on 2 September 2026. Its quoted annual transmission charges are ₹3,244.33 crore, according to its stock exchange disclosure.
The project comprises 6,000 MW, ±800 kV HVDC terminals at Barmer-II and at the South Kalamb substation, together with an augmentation of South Kalamb. The bipole line, about 1,000 km long, will pass through Rajasthan, Gujarat and Maharashtra. The scope also includes 400 kV lines in Rajasthan and two synchronous condenser (SynCon) units at the Barmer-II pooling station, POWERGRID said.
On 23 September 2026, POWERGRID acquired the project company, Barmer HVDC Power Transmission Limited, from REC Power Development and Consultancy Limited (RECPDCL), the bid process coordinator. The acquisition was for an aggregate value of about ₹18.98 crore, according to POWERGRID. RECPDCL had incorporated the special purpose vehicle (SPV) on 30 September 2025.
Management Comment
The 26 October filing carries no management comment. On 23 October 2026, announcing the GETCO award, Chief Operating Officer Amit Dutta said that orders of this kind reflect continued demand for specialised EPC capabilities in power transmission. Dutta added that the company is focused on building its project portfolio through consistent delivery to the required standards of quality and safety.
Policy and Regulatory Backdrop
The Barmer HVDC SPV was incorporated under the Ministry of Power’s “Guidelines Encouraging Competition in Development of Transmission Projects” and its tariff-based competitive bidding guidelines for transmission service. Under this route, the winning bidder buys the project SPV and builds the assets on a build, own, operate and transfer (BOOT) basis. As of 23 September 2026, the SPV had yet to obtain a transmission licence and the adoption of its transmission charges from the Central Electricity Regulatory Commission (CERC), POWERGRID’s filing states.
POWERGRID won a second renewable evacuation scheme a day after Barmer-II. On 3 September 2026 it disclosed an LoI for the Lakadia renewable energy zone scheme in Gujarat (Phase II, 7,500 MW), at quoted annual transmission charges of ₹1,152.49 crore.
About Jyoti Structures
JSL describes itself as an EPC company specialising in power transmission. Its corporate office is in Andheri, Mumbai, and it runs factories at Satpur in Nashik, Maharashtra, and at Urla in Raipur, Chhattisgarh, along with a testing station and research and development centre near Igatpuri. On 15 October 2026 the board appointed Deepak Dinkar Salunke as Chief Financial Officer.
For the year ended 31 March 2026 (FY26), standalone total income rose 53.1% to ₹772.44 crore from ₹504.50 crore in FY25, and net profit rose to ₹56.04 crore from ₹35.81 crore. In the June 2026 quarter, standalone total income rose 57.1% to ₹255.18 crore from ₹162.40 crore a year earlier. Net profit for the quarter rose to ₹19.46 crore from ₹11.16 crore, according to the company’s results release.
Recent Orders and Completions
According to JSL’s stock exchange disclosures:
- March 2026: Completed and commissioned the 400 kV Gadag-II line for Renew Power in Karnataka, about 100 circuit km of twin high-temperature low-sag (HTLS) conductor between the Gadag and Koppal pooling stations.
- March 2026: NOA worth ₹88.33 crore from Adani Electricity Mumbai Limited for 220 kV/110 kV line modification works for the Mumbai Coastal Road Project, due in 12 months.
- May 2026: Contract worth ₹67.96 crore, in a joint venture with Sri Lanka’s Hayleys Fentons Limited, for a 28 km, 220 kV double-circuit line from Mannar to Mullikulam to evacuate wind power, due in 18 months.
Outlook
The 38-month schedule runs from NOA dates that JSL has not disclosed, and its filing does not say when site work on the Rajasthan packages will begin. As of 23 September 2026, POWERGRID’s project SPV had yet to obtain its CERC transmission licence and tariff adoption. Award details for the stretches of the bipole in Gujarat and Maharashtra have not been made public in the filings reviewed for this article.
Official Sources
- Jyoti Structures Limited – Intimation on New Project Orders: Notifications of Award from Power Grid Corporation of India Limited (NSE, 26 October 2026): https://nsearchives.nseindia.com/corporate/JYOTISTRUC_26102026085929_FINALINTIMATION.pdf
- Power Grid Corporation of India Limited – POWERGRID declared successful bidder under TBCB: Barmer-II 6 GW scheme (NSE, 2 September 2026): https://nsearchives.nseindia.com/corporate/POWERGRID1_02092026190033_BSENSEReg30dt02092026_signed.pdf
- Power Grid Corporation of India Limited – Acquisition of Barmer HVDC Power Transmission Limited under TBCB route (NSE, 23 September 2026): https://nsearchives.nseindia.com/corporate/POWERGRID1_23092026191217_BSENSEReg30Acqdt23092026_v2signed.pdf
- Jyoti Structures Limited – Press release: Jyoti Structures Limited wins GETCO order for 765 kV transmission line project in Gujarat (NSE, 23 October 2026): https://nsearchives.nseindia.com/corporate/JYOTISTRUC_23102026143001_JSL_Press_Release.pdf
- Jyoti Structures Limited – Press release: financial results for the quarter ended 30 June 2026 (NSE, 4 August 2026): https://nsearchives.nseindia.com/corporate/JYOTISTRUC_04082026165603_PressReleaseJune26.pdf
- Jyoti Structures Limited – Press release: results for Q4 and year ended FY2025-26 (NSE, 30 April 2026): https://nsearchives.nseindia.com/corporate/JYOTISTRUC_30042026223118_Press_Release.pdf
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