Prime Highlights
- Bajel Projects incorporates a wholly-owned subsidiary in Abu Dhabi to bid directly for power transmission and distribution contracts across the Middle East.
- The move builds on the company’s strongest standalone annual revenue since listing, backed by a robust EPC order book.
Key Facts
- The new UAE entity, BAJEL T AND D PROJECTS AND CONTRACTING, carries an issued share capital of AED 100,000.
- Bajel Projects posted standalone Profit After Tax growth of 74 percent year-on-year, supported by an EBITDA margin of 4.4 percent.
Background
Bajel Projects has taken a fresh step in its overseas growth plans, setting up a wholly-owned subsidiary in Abu Dhabi to chase power transmission and electrical contracting work across the Middle East.
The new unit, BAJEL T AND D PROJECTS AND CONTRACTING, carries an issued share capital of AED 100,000 and puts the company in a position to bid for regional tenders on its own, rather than routing through partners.
The parent firm has funded the subsidiary entirely in cash, keeping its exposure to outside debt limited.
This comes at a time when Bajel Projects has just posted its best standalone yearly numbers since it went public, with revenue touching a new high and standalone Profit After Tax up 74 percent from the year before. A strong EPC order book gives the company added room to pursue growth beyond India.
Those tracking the sector say power transmission contracts in the Middle East usually bring in better margins than the crowded state-level utility market back home, which makes having a direct presence in the UAE a smart call.
The move sits within the company’s larger RAASTA 2030 plan and comes after it had already entered a joint venture with the Al Sharif Group in Saudi Arabia, part of a bigger wave of Indian EPC companies setting up shop in the Gulf.
Market watchers see the Abu Dhabi entry as a solid move toward spreading risk geographically, easing the company’s dependence on India while opening up new export and international EPC opportunities.
Other established Indian infrastructure firms have followed a similar path into the Middle East in recent years, and that track record adds to the confidence around Bajel Projects’ expansion plans.
