KP Green Engineering has secured its largest-ever contract, bagging advance work orders totaling ₹819 crore from Bharat Sanchar Nigam Limited (BSNL) for crucial telecom infrastructure works under the government's ambitious 4G Saturation Project, the company announced in a regulatory filing on Monday, January 12. The substantial contract is divided into two key clusters - the first valued at ₹483 crore including GST covers Cluster C encompassing Maharashtra and Goa, while the second order worth ₹336 crore including GST pertains to Cluster J comprising Jammu & Kashmir, Ladakh, Uttarakhand and Himachal Pradesh. This contract represents the largest single win in the company's operational history and significantly strengthens its executable order book while deepening its footprint in the telecom infrastructure and EPC segment.
KP Green Engineering's responsibilities under both advance work orders include supply and erection of Ground Based Towers (GBT), acting as an Infrastructure-as-a-Service (IaaS) provider for supply and installation of allied telecom infrastructure items, and comprehensive operation and maintenance (O&M) of the sites. The maintenance commitment spans an initial period of five years with a provision for an additional five-year extension under the 4G Saturation Project/BOP-BIP, executed in accordance with BSNL's technical specifications and project requirements. All work will be delivered according to BSNL's project schedule and specifications under the comprehensive infrastructure development initiative, validating the company's technical expertise and positioning it as a key contributor to India's digital infrastructure expansion.
Despite the significant contract win, the market reacted cautiously with shares of KP Green Engineering declining 4.17% to ₹316.15 as of 11:42 am on Monday's trading session. The stock has faced sustained pressure, falling 37.17% over the past six months, indicating persistent investor concerns despite the company's order book growth. Recent trading patterns show mixed performance with gains in some periods offset by broader declines, suggesting that while the BSNL contract is substantial, investors may be factoring in execution challenges or broader market conditions affecting the telecom infrastructure sector. The current market response highlights the disconnect between operational success and market sentiment.
The company has demonstrated robust financial growth with H1 FY26 revenue surging 103% to ₹532 crore compared to ₹262 crore in H1 FY25, while net profit jumped 115% to ₹58 crore from ₹27 crore in the previous period. As of H1 FY26, the company maintained an order book of ₹465 crore, which will be significantly enhanced by the new BSNL orders worth ₹819 crore, bringing the total executable order book to over ₹1,284 crore. This strong financial performance underscores the company's operational capabilities, making the successful execution of the current BSNL contract particularly crucial for restoring investor confidence and bridging the gap between financial results and market valuation.
KP Green Engineering Limited, part of the KP Group, operates as a diversified engineering company with substantial manufacturing capabilities including 3,10,500 MTPA capacity at its Dabhasa and Matar facilities, with expected expansion to 4,00,500 MTPA by FY26. The company is engaged in multiple business segments including fabrication, galvanising, fault rectification, patrolling of optical fibre cables, site clearance work, solar roof-top installation, EPC, mobile tower manufacturing, and turnkey services to the mobile and renewable energy industry. Company officials stated that these BSNL orders substantially bolster its executable order book and solidify its position in the telecom infrastructure and Engineering, Procurement, and Construction (EPC) segments, reaffirming its capability to deliver large-scale, geographically dispersed government projects and strengthening its role as a significant contributor to India's telecommunications infrastructure expansion.
