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🔋 Bondada Engineering: From Telecom Towers to Battery Biceps

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At a Glance

Bondada Engineering is the silent beast in India’s EPC (Engineering, Procurement & Construction) jungle. From boring telecom towers to ₹14,000 Cr worth of solar + battery contracts, this SME has gone full Bigg Boss on its competitors. But is it still a buy at 43x P/E or just another BOO-tstrapped bubble?


1. 🎬 Hook – India’s Next Infra Rockstar?

You’ve heard of L&T, right? Now meet its microcap doppelgänger with a solar tan.

Bondada Engineering started by erecting telecom towers, moved to solar EPC, and now they’re building battery energy storage systems (BESS) for Tamil Nadu and TGGENCO.

Also:

  • ✅ ₹9,000 Cr solar order
  • ✅ ₹836 Cr battery BOO order
  • ✅ Microsoft data center ops contract
  • ✅ ₹1,000+ Cr revenue milestone unlocked

🎯 It’s the kind of company that builds India’s energy backbone… while your favorite unicorn builds memes.


2. 🛠️ WTF Do They Even Do?

📡 Telecom Infrastructure:

  • Tower installation, GI pole supply
  • Airtel, BSNL, Dinesh Engineers are clients

🌞 Solar EPC:

  • Utility-scale solar project execution
  • 2000 MW order in Andhra alone

🔋 Battery Energy Storage:

  • TGGENCO: ₹204 Cr order
  • Tamil Nadu: ₹836 Cr under BOO model (they own + operate)

🏗️ AAC Blocks, MS Towers & WS Beam Exports

  • Yes, they even have a Telangana AAC plant
  • And shipped beams to the USA. America imports Bondada now.

3. 💰 Financials – Profits Going Parabolic

MetricFY21FY22FY23FY24FY25
Revenue (₹ Cr)2873343718011,571
Net Profit (₹ Cr)9101746115
OPM6%6%8%
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