GE Power India Secures Additional ₹273.5 Crore Contract for Saundatti Hydro Project

GE Power India (GEPIL) has secured an additional contract worth ₹2,735 million (₹273.5 crore), exclusive of taxes, from GREENKO KA01 IREP Private Ltd. This contract is part of an existing agreement for the Saundatti Hydro Project in Belagavi, Karnataka.

In a regulatory filing, GE Power India stated, “…we would like to notify that there has been an addition in the scope of the aforementioned contract with GREENKO KA01 IREP Pvt. Ltd.”

Scope of Additional Work

The additional contract covers engineering, manufacturing, procurement, supply, installation, and testing of electromechanical equipment for an additional 320 MW unit at the Saundatti pumped storage project (PSP). This new unit expands the original project scope, further strengthening GE Power India’s role in the hydroelectric initiative.

Initial Contract Details

The initial contract, valued at approximately ₹863.4 crore ($113 million), was awarded on April 29, 2022. It included the supply and installation of the complete electro-mechanical package for:

• 3 x 320 MW vertical Francis pump-turbine fixed-speed machines
• 2 x 160 MW vertical Francis pump-turbine fixed-speed machines

With the addition of the new 320 MW unit, the total hydro capacity under this project now increases further.

Stock Performance 

On February 27, 2025, GE Power India share price ended 3.48% lower at ₹245.15. GE Power India’s share price reached a 52-week high of ₹646.55, and a 52-week low of ₹220.80. As per BSE, the total traded volume for the stock stood at 0.33 lakh shares with a turnover of ₹83.42 lakhs.

At the current price, GE Power India shares are trading at a price-to-earnings (P/E) ratio of 28.05x, based on its trailing 12-month earnings per share (EPS) of ₹8.74, and a price-to-book (P/B) ratio of 14.72, according to exchange data.

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