The KEC International Power Grid order is worth ₹2,872 crore and covers 765 kV transmission lines, including the largest single order KEC has ever won for its India transmission and distribution (T&D) business. The company announced it on 24 October 2026, and the lines are meant to carry 8.5 GW of renewable power out of Gujarat.
Here is what was won, why the buyer matters, and how it sits against a quarter that was weak for KEC.
Key takeaways
- KEC won turnkey orders worth ₹2,872 crore from Power Grid Corporation of India (PGCIL), covering design, supply and installation of 765 kV lines.
- The lines will evacuate 8.5 GW of renewable energy from Gujarat.
- KEC says its year-to-date order intake now exceeds ₹13,500 crore, of which ₹9,500 crore is T&D.
- The win lands after a soft April-June 2026 quarter, when profit fell and margins shrank.
What exactly did KEC International win?
The orders are turnkey, which means KEC designs the lines, buys the materials and builds them, then hands over a working asset. The client is Power Grid, the state-run company that owns most of India’s high-voltage grid.
The voltage matters. A 765 kV line is the highest standard AC level used in India, built to move large blocks of power over long distances with fewer losses than lower-voltage lines. Think of it as a motorway instead of a district road.
KEC’s managing director and CEO, Vimal Kejriwal, said the projects “have substantially expanded our India T&D order book,” as reported by Business Line via TradingView. The company is part of the RPG Group.
Why does Gujarat’s renewable power need new lines?
Solar and wind farms are often built where land and sunshine or wind are plentiful, not where the electricity is used. If the grid cannot carry that power out, the plants either wait or switch off.
These lines are designed to close that gap for 8.5 GW of Gujarat renewable capacity. For scale, that is the kind of output that can supply several large cities at peak, though actual delivery depends on the weather and the load.
How big is this against KEC’s order book?
KEC reported a consolidated order book of ₹37,697 crore as of 30 June 2026. Including projects where it is the lowest bidder (L1), the figure was above ₹40,000 crore, according to SolarQuarter’s report on the Q1 FY27 results.
| Metric | Figure | Date or period |
|---|---|---|
| New PGCIL orders | ₹2,872 crore | Announced 24 October 2026 |
| Year-to-date order intake | Over ₹13,500 crore | As stated by KEC, 24 October 2026 |
| Of which T&D | ₹9,500 crore | Same |
| Order book | ₹37,697 crore | 30 June 2026 |
| Order book plus L1 | Over ₹40,000 crore | 30 June 2026 |
A single order of ₹2,872 crore is roughly 7% of the ₹40,000 crore pipeline. That is meaningful, but it is a slice of work spread over several years, not a one-quarter windfall.
Does the order fix KEC’s weak quarter?
Not by itself. In Q1 FY27 (April to June 2026), KEC’s revenue was flat at ₹5,024 crore, while consolidated profit after tax fell to ₹73 crore from ₹125 crore a year earlier. The EBITDA margin slipped to 5.8% from 7.0%.
Management blamed Middle East disruptions, labour shortages and delayed payments on water projects, and called these largely temporary, per the same SolarQuarter report. It kept its FY27 revenue growth guidance at 12% to 15%.
My view, clearly opinion: orders are the easy half of an EPC (engineering, procurement and construction) business. The hard half is turning them into revenue at a decent margin, and that is what the next few results will test.
Why is Power Grid spending so much on transmission?
Power Grid has guided to capital expenditure of ₹37,000 crore for FY27, rising to ₹45,000 crore in FY28, according to T&D India. It finished FY26 with capex of ₹39,967 crore.
Behind that sits a government plan of about ₹7.9 lakh crore of transmission spending through 2035-36, which Power Grid expects to be bid out over three to four years, as covered by Power Peak Digest. Contractors such as KEC are the ones who build it.
What happens next?
Watch three things. First, KEC’s Q2 FY27 results, which cover July to September 2026 and show whether margins recover. Second, how quickly these 765 kV lines move from award to construction. Third, whether more of the multi-year transmission pipeline reaches the bidding stage.
The exact delivery timeline for the new orders was not in the announcement coverage I could verify, so treat any completion date you see elsewhere with care. For another view of how power demand shapes infrastructure bets, see our piece on the US gas build-out and the power grid.
FAQ
How much is the KEC International Power Grid order worth?
It is worth ₹2,872 crore in turnkey orders, announced on 24 October 2026, for 765 kV transmission lines.
What will the lines be used for?
They are meant to evacuate 8.5 GW of renewable energy from Gujarat into the national grid.
Is this KEC’s biggest order ever?
KEC says the package includes its largest-ever order for the India T&D business. It did not describe it as its largest order across all segments and countries.
Next step: read KEC’s exchange filing and its Q2 FY27 results when they are published, and compare order intake with revenue and margin.
This article is for information only and is not investment advice.
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