According to the company, the project is scheduled for completion during FY2026-27, in line with the terms of the contract. The aggregate order size stands at 300 MW/450 MWp.

Waaree Renewable Technologies clarified that SPPL is a subsidiary of the company and that the contract therefore qualifies as a related-party transaction. The company added that its promoter and promoter group entities have an interest in the awarding entity through this subsidiary relationship.

Waaree Renewable Technologies (WRTL) is a subsidiary company of the Waaree Group and is 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 long-term investments within the commercial and industrial customer segments.

The company’s consolidated net profit surged 124.74% to Rs 120.19 crore in Q3 FY26 as against Rs 53.48 crore in Q3 FY25. Revenue from operations zoomed 136.18% year on year (YoY) to Rs 851.06 crore in Q3 FY26 over Q3 FY25.

The counter slipped 2.04% to Rs 950.65 on the BSE.