The company received the letter of intent (LoI) for the project on 16 June 2026. The project will be executed on a build, own, operate and transfer (BOOT) basis.

The project comprises the establishment of two new 765/400 kV substations in Jharkhand and Chhattisgarh. The scope also includes the extension of existing substations in Chhattisgarh and West Bengal, along with the construction of 765 kV and 400 kV transmission lines traversing Jharkhand, Chhattisgarh and Odisha.

The Power Grid Corporation of India is a Maharatna CPSU and India’s largest electric power transmission company. The company had reported a 9.7% YoY rise in consolidated net profit to Rs 4,546.33 crore in Q4 FY26, compared with Rs 4,142.87 crore in Q4 FY25. Revenue from operations declined 5% YoY to Rs 11,665.61 crore in the quarter ended 31 March 2026.

Shares of Power Grid Corporation shed 0.39% to Rs 284.05 on the BSE.