KEC wins Rs 1,014 crore India grid orders including first 765 kV pumped-storage line

KEC International builds large power lines and other infrastructure projects on contract. On October 10, 2026 it won Rs 1,014 crore of new India transmission and distribution orders, including its first 765 kV line to carry power from a pumped-storage plant in Western India . The win takes this year's intake past Rs 9,600 crore and adds renewables-linked grid work to a transmission-heavy backlog .

Rs 1,014 crore India win adds first pumped-storage evacuation line

KEC secured the orders in its India transmission and distribution business, which moves power from plants to the grid . Managing Director and CEO Vimal Kejriwal called it a prestigious order from an existing client for evacuation of power from a pumped-storage plant, and an important milestone as it supports growing power infrastructure needs of the renewables segment . The filing says the orders came in the normal course of business and does not disclose client name, break-up, timelines or commercial terms .

First 765 kV pumped-storage line is a renewables milestone

A pumped-storage plant stores energy using water and releases it to make power when demand is high . A 765 kV line is a very high-voltage line used to carry large amounts of that power over long distances. This is KEC's first order for setting up such a line for a pumped-storage plant .

The win matters because it extends KEC's evacuation work beyond conventional lines into storage-linked renewables infrastructure. In the June quarter it had separately secured its first transmission line order for evacuation of power to a data centre from a private developer .

Intake reached over Rs 9,600 crore after fast build-up since June

Year-to-date covers orders won in FY27 since April. KEC had reported year-to-date intake of over Rs 6,300 crore for the June quarter . Two days before this announcement the running total was over Rs 8,600 crore, and this Rs 1,014 crore win took it past Rs 9,600 crore .

Sources: June quarter — ; October — .

As on	Year-to-date order intake
June 30, 2026	Over Rs 6,300 crore
Oct 8, 2026	Over Rs 8,600 crore
Oct 10, 2026	Over Rs 9,600 crore

The sequence shows intake accelerating after June, with the October wins alone adding materially to the full-year tally.

Transmission drives most sales after strong FY26

Transmission and distribution, or T&D, is now the core of KEC's sales. KEC is a global infrastructure engineering, procurement and construction major and an RPG Group company .

T&D growth slowed after a strong middle of FY26

Sources: FY26 and Q4 FY26 — ; Q3 FY26 — ; Q1 FY27 — .

Period	Year-ago T&D revenue	Current T&D revenue	Growth
Full year FY26	Rs 12,833 crore	Rs 15,883 crore	24%
Quarter Q3 FY26	Rs 3,175 crore	Rs 4,161 crore	31%
Quarter Q4 FY26	Rs 4,328 crore	Rs 4,485 crore	4%
Quarter Q1 FY27	Rs 3,157 crore	Rs 3,217 crore	2%

The mix shifted decisively toward T&D. Its share of total sales rose to 68% in FY26 from 59% in FY25, on total revenues of Rs 23,506 crore in FY26 . In the June quarter T&D was 64% of Rs 5,024 crore in sales . The table shows a strong middle of FY26 giving way to much slower growth in the March and June quarters.

Flat June sales reflect labour and Middle East pressures

Consolidated revenues were maintained in a challenging environment in Q1 FY27 . Management said performance could have been better but for the West Asia crisis, shortage of labour and slower execution in water projects .

It added that supply chains were gradually normalising and labour availability was improving, and said it remained confident of delivering stronger execution and improved financial performance in the coming quarters .

Backlog above Rs 40,000 crore gives revenue visibility

An order book is work already won but not yet built, which turns into sales later. L1 means lowest-bidder position, where KEC is the cheapest bidder and is likely to win .

Funded book rose to Rs 36,267 crore by March

Source: .

As on March 31	Order book
FY23	Rs 30,553 crore
FY24	Rs 29,644 crore
FY25	Rs 33,398 crore
FY26	Rs 36,267 crore

FY26 order intake was Rs 25,280 crore . Within that, T&D intake was about Rs 17,700 crore across India, Middle East, Americas, SAARC, Africa and CIS, including the largest-ever India T&D order of over Rs 1,000 crore from a private client . The T&D order book and L1 position had doubled in the last three years as T&D revenue share rose to 68% in FY26 from 50% in FY23 .

Pipeline above Rs 2 lakh crore backs future intake

Sources: March position — ; June position — .

As on	Order book plus L1	Tenders in pipeline
March 31, 2026	Over Rs 40,000 crore	Over Rs 1,80,000 crore
June 30, 2026	Over Rs 40,000 crore	Over Rs 2,00,000 crore

More than 60% of the June order book plus L1 position was from T&D . The June tender pipeline was equally distributed between T&D and non-T&D . Management said a healthy order book, L1 position and tender pipeline provides strong revenue visibility . The order book to revenue ratio was 1.7 times in FY26 .

Pumped-storage order fits renewables grid build-out

Peak demand and 900 GW target drive evacuation demand

Management links India T&D demand to rising peak demand and grid congestion, with accelerating investments in high-voltage direct current lines to evacuate renewable power and strengthen the national grid . It points to India's renewable target scaled up to about 900 GW by 2035, unlocking large opportunities across solar and wind and, by linkage, across T&D, solar, wind and battery storage .

That theme is already converting into work. In Q1 FY27 KEC secured new orders of about Rs 800 crore across wind and solar and was executing solar and wind projects of over 600 MW . In FY26 it entered wind with two orders for 100 MW-plus projects and commissioned two solar projects totalling about 1,000 MW across Rajasthan and Karnataka .

Expanded tower capacity supports high-voltage delivery

KEC describes itself as a $270.00 crore global engineering major with footprint in 110-plus countries, 250-plus ongoing projects and 8 manufacturing facilities . It showcases the 765 kV Ahmedabad-Navsari transmission line in Gujarat and lists transmission lines, substations, high-voltage direct current, STATCOM and underground cabling in its portfolio .

To support volumes, it expanded tower manufacturing capacity across Dubai, Jabalpur, Jaipur and Butibori plants by 15% to over 4,80,000 MTPA in FY26 . Other high-voltage references include 765/400 kV gas-insulated switchgear at Maheshwaram in Telangana and commissioning of its first plus-minus 320 kV high-voltage direct current terminal project at Aarey, Kudus and Mandvi in Mumbai, enabling 1,000 MW power transfer .

The continuing constraint flagged for India T&D is right-of-way issues in building lines , alongside wider near-term pressures from geopolitical uncertainty, supply-chain disruptions and delays in awards and payments .

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