Bondada Engineering shares hit 10% upper circuit after firm wins Rs 9,000-crore order from Andhra government

Bondada Engineering

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Bondada Engineering shares jumped 10 percent to hit the upper circuit on May 23 after the company announced that it has won a project worth Rs 9,000 crore from the government of Andhra Pradesh. The shares of the company remained locked in the upper circuit at Rs 425.05 apiece.

In an exchange filing, Bondada Engineering announced that it has received the order from the energy department of the state government. The order pertains to the allocation of 2,000 MW AC / 2,600 MWp DC Solar Power capacity at various locations across Ananthapuramu and Sri Sathya Sai districts in Andhra Pradesh.

Notably, the company had submitted detailed proposals for establishing solar power projects in several villages across the two districts. "These proposals were considered in the State Investment Promotion Board (SIPB) meeting held on May 15, 2025, during which the SIPB approved the allocation of the proposed solar power capacity. The allocation is subject to ensuring no overlap with areas already allotted to other developers for renewable energy (RE) projects or wind resource assessment studies," Bondada said.

The project is set to be implemented within 24 months, in accordance to the guidelines outlined in the Andhra Pradesh Integrated Clean Energy Policy 2024, the company further said.

Bondada said that this Rs 9,000 crore order will increase the order book of the firm to over Rs 14,000 crore. "Apart from this the Company expects to add a revenue of Rs. 1,160 Crs from IPP from FY 2029 onwards," it added.

Notably, the order will be executed through Bondada's wholly owned subsidiary Bondada Renewable Energy. The project is expected to generate 3,900 jobs in Andhra Pradesh, according to the company.

Also read: Our LIVE blog on stock market updates

Despite today's sharp gains, Bondada Engineering shares have declined over 30 percent in 2025 so far. The stock has a market capitalization of over Rs 4,668 crore, according to data on BSE.