Bharat Heavy Electricals Limited (BHEL), a leading public sector enterprise, has been awarded a significant contract valued at approximately ₹11,800 crore for the Engineering, Procurement, and Construction (EPC) package of the 2×660 MW Korba West Supercritical Thermal Power Plant (STPP) in Chhattisgarh. The contract was granted by the Chhattisgarh State Power Generation Company Limited (CSPGCL), reinforcing BHEL’s position as a key player in India’s energy infrastructure sector.

The project will be established at the Hasdeo Thermal Power Station in the Korba district and involves the supply of essential supercritical equipment, including boilers, turbines, generators, and related auxiliaries. Additionally, BHEL will be responsible for electrical systems, Control & Instrumentation (C&I), Balance of Plant (BoP) packages, as well as erection, commissioning, and civil works. The project is expected to achieve commercial operations within 60 months.

This latest contract win underscores BHEL’s continued success in securing large-scale orders within the power sector. Just last week, the company announced a ₹7,500 crore EPC contract from Gujarat State Electricity Corporation Limited (GSECL) for the 1×800 MW Ukai Extension Unit 7 in Gujarat’s Tapi district. Earlier this year, BHEL also secured major contracts, including a ₹6,700 crore order from Singareni Collieries in Telangana for an 800 MW thermal power unit and a ₹6,200 crore contract from Damodar Valley Corporation.

Following the announcement of the Korba West STPP contract, BHEL’s stock witnessed an uptick in market sentiment. On Friday, the company’s shares traded 2.7% higher at ₹219.72, marking a 22% surge over the past month. Analysts remain divided on the stock’s outlook, with 17 financial analysts covering BHEL: eight issuing a “sell” recommendation, seven advising a “buy,” and two maintaining a “hold” stance.

BHEL, classified as a Navratna Public Sector Undertaking (PSU), is India’s largest engineering and manufacturing enterprise in the energy and infrastructure domains. It is a globally recognized power equipment manufacturer with extensive expertise in thermal, hydro, and renewable energy projects. As of December 31, 2024, the Government of India held a 63.17% stake in the company.

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Financially, BHEL has demonstrated robust performance. For the third quarter of FY25, the company’s consolidated net profit surged by 123.34% to ₹134.70 crore compared to ₹60.31 crore in the corresponding quarter of FY24. The revenue from operations also experienced a substantial year-on-year (YoY) increase of 32.21%, reaching ₹7,277.09 crore for the quarter ending December 31, 2024.

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