The project has been awarded by a domestic entity and is scheduled to be completed during FY28, in accordance with the terms of the contract.

The company said the aggregate order size is 210 MWp (150 MWac).

Waaree Renewable Technologies clarified that the order has been awarded by Solaris Horizon Energy, a step-down subsidiary of Waaree Energies. Accordingly, the transaction qualifies as a related-party transaction and has been undertaken at arm's length.

Waaree Renewable Technologies Limited (WRTL) is a subsidiary company of Waaree Group and spearheading the Solar EPC business. We are also a solar developer that finances, constructs, owns and operates solar projects. Headquartered in Mumbai, we operate across geographies, focusing on longterm investments within the commercial and industrial customer segments.

The company reported a 25.58% decline in consolidated net profit to Rs 115.90 crore for the quarter ended 30 June 2026, compared with Rs 155.74 crore in Q4 FY26. Revenue from operations declined 16.16% QoQ to Rs 924.25 crore in the quarter ended 30 June 2026. On a year-on-year basis, however, the company posted strong growth, with net profit rising 34.08% and revenue increasing 53.22%.

Shares of Waaree Renewable Technologies rose 0.16% to Rs 907.40 on the BSE.