Bhadla-III and Ramgarh expansion order excludes GST; SPML says execution is scheduled for 27 months from the formal award letter, which is awaited.
SPML Infra said on 4 November 2026 that it had secured an approximately ₹186.41 crore order from Power Grid Corporation of India Limited (POWERGRID) to expand the Bhadla-III Substation and Ramgarh Pooling Station in Rajasthan. The Kolkata-based company’s engineering, procurement and construction (EPC) order excludes GST.
SPML received the order intimation by email and is awaiting the formal Letter of Award (LOA), according to its stock-exchange disclosure. The announcement establishes an order intimation, with construction commencement yet to be confirmed.
Bhadla-III and Ramgarh: what the substation expansion covers
The assignment concerns the 765/400/220 kV Bhadla-III Substation and Ramgarh Pooling Station. SPML’s accompanying release identifies it as the 765 kV AIS Extension Substation Package SS-155T. AIS means air-insulated substation.
At Ramgarh, the disclosed scope includes two 765/400 kV, 1,500 MVA interconnecting-transformer bays, two 400/220 kV, 500 MVA bays, one 400 kV line bay and two 220 kV line bays. At Bhadla-III, it includes augmentation involving five 400/220 kV, 500 MVA transformer bays, three 400 kV line bays and five 220 kV line bays.
Although the wider transmission-augmentation scheme also names Kanpur, SPML describes this package as work at two substations, Bhadla-III and Ramgarh.
Why the Rajasthan order matters for Kolkata-based SPML Infra
SPML’s registered office is on Camac Street in Kolkata. This development concerns a Bengal-based company’s work outside the region, rather than new capital investment in West Bengal.
According to SPML, the two Rajasthan facilities help transmit electricity from the state’s renewable-energy generation centres. Their expansion is intended to support greater renewable-power integration. For MIE readers, the order shows an Eastern India infrastructure business participating in the grid investment needed alongside new generation capacity.
The disclosures do not identify Bengal supplier allocations or quantify spending or employment in the state.
Execution timeline: 27 months from the Letter of Award
SPML states an execution period of 27 months from the date of the LOA, or as specified in its terms. The clock should therefore not be assumed to start on the 4 November disclosure date. The immediate milestone is the formal Letter of Award and confirmation of its execution terms. Subsequent mobilisation and progress disclosures will help establish when the order moves into construction. Its ₹186.41 crore value should not be treated as revenue already earned or expenditure already incurred.
Sources: SPML Regulation 30 order disclosure, 4 November 2026; SPML press release filed with NSE, 4 November 2026.
File photo of SPML’s Durgapur substation project in West Bengal. It does not show the newly announced Rajasthan works. Photo: SPML Infra, official project gallery.