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Business Standard
23-05-2025
- Business
- Business Standard
Bondada Engineering shares soar 10% on ₹9,000 crore solar project win
Shares of Bondada Engineering surged 10 per cent to hit an upper circuit after it secured a solar power project from the government of Andhra Pradesh. Bondada Engineering's stock rose as much as 10 per cent during the day to hit an upper circuit of ₹425 per share. This compares to a 0.96 per cent advance in BSE Sensex as of 12:10 PM. This is the second time this month that the stock has hit the upper circuit breaker, the previous instance being on May 12 this year. Shares of the company snapped their three-day losing streak on Friday and have recovered over 25 per cent from their recent lows of ₹333, which it hit earlier this month. The counter has fallen 30 per cent this year, compared to a 4.8 per cent advance in the benchmark Sensex. Bondada Engineering has a total market capitalisation of ₹4,668.17 crore. Why did Bondada Engineering's shares rally? The company was awarded an order worth ₹9,000 crore from the Energy Department of Andhra Pradesh for the allocation of 2,000 MW (AC) / 2,600 MWp (DC) solar power capacity across various locations in Ananthapuramu and Sri Sathya Sai districts. The proposals received formal approval during the State Investment Promotion Board (SIPB) meeting held on May 15, 2025, it said in an exchange filing on Friday. In line with the Andhra Pradesh Integrated Clean Energy Policy – 2024, the project is to be executed within 24 months. The allocation follows detailed project proposals submitted by the company, covering solar developments in Roddam and Kothacheruvu mandals of Sri Sathya Sai district, as well as Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala mandals in Ananthapuramu district. The said project is likely to create 3,900 employment opportunities in Andhra Pradesh. This ₹9,000 crore order will bring Bondada Engineering's total order book to over ₹14,000 crore, according to the statement. Additionally, the company expects to generate ₹1,160 crore in revenue from its Independent Power Producer (IPP) operations beginning the financial year 2029 (FY29). "This strategic allocation marks a significant milestone for Bondada Engineering and reaffirms our commitment to contributing to India's renewable energy ambitions through large-scale, sustainable infrastructure development," it said in the statement. About Bondada Engineering The company is a company based in India, primarily known for its involvement in engineering, construction, and infrastructure-related services. It is known for providing solutions in various sectors, including civil engineering, electrical, mechanical, and other related fields.
Business Upturn
23-05-2025
- Business
- Business Upturn
Bondada Engineering secures allocation for 2000 MW solar power capacity in Andhra Pradesh
Bondada Engineering Limited has received a Government Order (GO) from the Energy Department of the Government of Andhra Pradesh for the allocation of 2000 MW AC / 2600 MWp DC solar power capacity. The solar projects will be developed across various locations in Ananthapuramu and Sri Sathya Sai districts. The Company had earlier submitted detailed project proposals for the specified capacity. The proposed project locations include: Sri Sathya Sai District : Villages in Roddam and Kothacheruvu Mandals Ananthapuramu District: Villages in Gooty, Peddavadugur, Vidapanakallu, Peddapappur, and Narpala Mandals These proposals were reviewed and approved in the State Investment Promotion Board (SIPB) meeting held on May 15, 2025. The allocation is subject to the condition that there is no overlap with areas already assigned to other developers for renewable energy or wind resource assessment projects. As per the Andhra Pradesh Integrated Clean Energy Policy – 2024, the implementation timeline for the project is 24 months. The current order, valued at ₹9,000 crore, brings the company's order book to over ₹14,000 crore. Additionally, Bondada Engineering anticipates generating approximately ₹1,160 crore in revenue from Independent Power Producer (IPP) operations starting FY 2029. This development supports ongoing efforts to expand renewable energy infrastructure in Andhra Pradesh in line with state and national clean energy objectives. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
The Hindu
23-05-2025
- Business
- The Hindu
Land, incentives approved to firms investing in hotels and resorts in A.P.
Based on the recommendations of the State Investment Promotion Board (SIPB), the government has given its nod for grant of incentives to Bengaluru-based Shravanthi Hotels and Resorts for development of Ibis Styles 3-star and Novotel 5-star Cluster Hotel at Tirupati, as per the provisions of Andhra Pradesh Tourism Policy 2024-2029. The government also allotted 12.7 acres of land in S.V. Puram, Vadamalapeta, Tirupati, and granted incentives to Odisha-based Bengal Ultimate Resorts LLP for development of 5-star resorts, as per the provisions of the Tourism Policy. Orders signed by the Special Chief Secretary, Tourism, Ajay Jain, were released to this effect on Thursday.
Hans India
21-05-2025
- Business
- Hans India
AP forms Cabinet panel to monitor agri prices
Vijayawada: The state Cabinet, which met here on Tuesday under the chairmanship of Chief Minister Nara Chandrababu Naidu, mainly discussed the problems of farmers, including the lack of minimum support price (MSP) for several agricultural crops. As farmers are enduring the lack of MSP for chillis, tobacco, aqua products, cocoa, sugarcane and mango crops, the Chief Minister formed a Cabinet sub-committee with six ministers and directed it to study the issue at the field level and take appropriate steps to protect the interests of the farmers. Disclosing the details of the Cabinet meeting to the media, Minister for Information and Public Relations K Parthasarathi said the Cabinet approved Rs 13,000 crore investments proposed during the recent meeting of the State Investment Promotion Board (SIPB). He said the Cabinet decided to allot land for the Law University in Amaravati as per the request of the Bar Council of India which came forward to set up it in Amaravati. He said that the Cabinet also approved the allotment of land for Dr BR Ambedkar Open University near Eluru. He further said the Cabinet decided to set up Potti Sriramulu Telugu University's main office in Rajahmundry. Coming to the tourism sector, the minister said the Cabinet had re-alloted 500 acres of land to the GMR Group which is developing greenfield Bhogapuram airport near Visakhapatnam. He said the previous YSRCP government did not allot 500 acres of the total 2,703 acres allocated for the airport. He said the Cabinet also approved several projects in tourism sector as per the new tourism policy. The minister said the Cabinet also decided to create 2,260 new posts for special children as per the directions of the Supreme Court. According to him, the draft bill of the AP Transport Department to reduce green tax on vehicles. He said a decision was also taken to fill 245 vacant posts under various categories in AP High Court.
India Today
16-05-2025
- Business
- India Today
Andhra Pradesh bets big on clean energy, targets 72 giga watts by 2029
Andhra Pradesh stepped up its renewable energy drive with the launch of a major infrastructure project and a bold target to become a clean energy leader in Minister for Information Technology and Renewable Energy, Nara Lokesh, on Friday, laid the foundation stone for the ReNew Renewable Energy Complex in Anantapur. The project, valued at Rs 22,000 crore, marks one of the state's largest investments in the sector to green energy firm returned to Andhra Pradesh after six years with the 4.8 GW project, covering solar, wind and battery storage. Speaking at the event, Lokesh described the project as a turning point. 'Today, we are not just laying a foundation stone — we are laying the cornerstone of India's clean energy revolution,' he project is part of a broader plan to scale up renewable capacity across Andhra Pradesh. At the Renewable Energy Invest Summit held in 2024, the state announced its goal of achieving 72 gigawatts (GW) of renewable energy capacity by 2029. Lokesh described the mission as 'bold, urgent, and necessary.'The announcement came a day after the State Investment Promotion Board (SIPB) approved 19 new projects worth Rs 33,720 crore, expected to create 34,621 jobs across sectors like energy, tourism, IT and the new government took office, SIPB has cleared 76 projects worth Rs 4.95 trillion, projected to generate 4.5 lakh jobs.A key focus of this plan is Rayalaseema, a region in southern Andhra Pradesh. Lokesh noted that a majority of the recent clean energy investments are being directed there, positioning the region as a future clean energy the last eight months, Andhra Pradesh has secured several major renewable energy commitments from firms such as Tata Power (Rs 49,000 crore for 7,000 MW), NTPC Green Hydrogen (Rs 1.86 lakh crore project foundation stone of which was laid by Prime Minister Narendra Modi), Vedanta Sarantika (Rs 50,000 crore for 10,000 MW), Sal Industries (Rs 6,000 crore for 1,200 MW) and Brookfield (Rs 50,000 crore for 8,000 MW)Lokesh attributed the state's progress to the leadership of Chief Minister N Chandrababu Naidu. Referring to the Integrated Clean Energy Policy, launched in October 2024, he said it serves as a 'blueprint for India's green revolution.' He praised Naidu's long-term planning, stating, 'Sri Nara Chandrababu Naidu Garu is not merely building roads and infrastructure; he is building highways to the future.''Andhra Pradesh is not just adapting to change — it is driving and creating it,' Lokesh added.
