State-owned engineering firm Bharat Heavy Electricals Ltd (BHEL) announced on Monday that its board has approved further equity investment of ₹65 crore in NTPC BHEL Power Projects, a joint venture with NTPC Ltd. According to an exchange filing, the board meeting held on September 14, 2026 approved the investment in one or more tranches as BHEL's equity contribution in NTPC BHEL Power Projects Private Limited (NBPPL). The equity investment will be made at the face value by both promoter companies at arm's length terms, with the decision specifically aimed at supporting NBPPL's operations and settling urgent liabilities to ensure the venture continues as a going concern.
NBPPL is a joint venture company of BHEL and NTPC Limited with 50:50 equity shareholding. As reported by the exchange filing, the main objective of the joint venture is to carry out EPC contracts for power plants and other infrastructure projects, as well as manufacture and supply of equipment in India and abroad. BHEL stated that the 50 per cent shareholding is maintained in the joint venture, which was incorporated in April 2008 to execute EPC contracts for power plants and manufacture power plant equipment. The joint venture focuses on executing engineering, procurement, and construction contracts for power plants and manufacturing power plant equipment.
According to the exchange filing, NBPPL's turnover showed significant growth trajectory over recent years. In 2025-26, the joint venture's turnover was ₹1.04 crore (provisional), while in 2024-25, it was ₹3.48 crore. The turnover in 2023-24 was ₹18.19 crore, demonstrating substantial growth from the previous year. This performance data reflects the joint venture's operational activities and market position in the power sector.
