According to the company's exchange disclosure, Bondada Engineering has incorporated Bondada Hindupur BESS Project Private Limited as a wholly owned subsidiary to develop a significant energy storage project. The subsidiary has been established as a dedicated Special Purpose Vehicle (SPV) specifically designed to undertake the development, ownership, operation and maintenance of the utility-scale battery energy storage system. As per the latest reports, the financial performance of the subsidiary will be consolidated into Bondada Engineering's financial statements, reflecting the company's strategic expansion into the energy storage segment. The company disclosed the incorporation on September 2, marking a formal step towards executing the battery storage project, which Bondada Engineering had earlier identified as a ₹627 crore order. The infrastructure aims to support grid stability, renewable energy integration and peak-load management in the region.
The Bondada Hindupur BESS Project has been awarded by AP Transco and is designed to provide 225 MW / 450 MWh of battery energy storage system capacity. The project encompasses comprehensive development responsibilities including project financing, procurement, construction, commissioning, ownership, operation and maintenance as applicable under the Build-Own-Operate (BOO) model. The newly incorporated special purpose vehicle will undertake all aspects of the project, with Bondada Engineering subscribing to 1,00,000 equity shares at a face value of ₹10 each, translating into an initial paid-up equity capital of ₹10 lakh. The company will hold the entire equity capital of the SPV, with assets and related investments held by the new entity subject to applicable contractual and regulatory requirements. The exchange filing states that all required regulatory and government approvals for the incorporation have already been obtained.
Bondada Engineering shares were trading at ₹281 as of 12:18 PM IST on September 2, 2026, according to market data, representing a decline of approximately 1.4% from the reference level of around ₹285 visible on the trading screen. The stock had opened at ₹284.95 on September 2 and touched a low of ₹277.00 during the trading session, declining by around 2.79% from the opening price. The shares moved below the ₹280 mark briefly during the session before recovering towards ₹281. The Bondada Engineering share price remained below the day's reference level despite the company's announcement of its new energy-storage subsidiary. Incorporated in 2012, Bondada Engineering Ltd provides engineering, procurement and construction (EPC) and operations and maintenance (O&M) services to companies operating in the telecom and solar energy sectors.
The Andhra Pradesh project represents nearly 43 per cent of Bondada Engineering's disclosed BESS order book of around ₹1,463 crore as of March 31, 2026. The company's BESS order book also includes a 200 MW/400 MWh battery storage project for Tamil Nadu Generation and Distribution Corporation. Under the BOO model structure, Bondada Engineering will be responsible for financing and retaining ownership of the storage asset while operating and maintaining the project, with revenue generated under the project agreement over its operating period. This initiative allows Bondada Engineering to use its execution capabilities and infrastructure experience in utility-scale energy storage while diversifying its business into an emerging infrastructure segment. The project is intended to provide additional flexibility to the Andhra Pradesh power system and support renewable energy integration, grid balancing, peak-load management and greater flexibility in power-system operations.
