• Domestic order win: KEC secured a ₹1,300 crore domestic order comprising roughly 50% T&D, 30% civil, and the remainder in renewables and cables, contributing toward its full-year order target of ₹30,000 crore.
• Tender pipeline outlook: The company holds a tender pipeline of ₹1,80,000 crore, though Q1 awards from West Asia may remain muted before picking up through system redundancies and renewable investments.
• HVDC market opportunity: Around 7 to 8 domestic HVDC projects are in the pipeline over the next couple of years, with each expected to offer roughly ₹1,000 crore in order book potential for KEC.
• Data center projects: KEC is targeting and actively negotiating direct developer-led contracts to construct dedicated power lines and substations for data centers, which provide large size and premium pricing.
• Revenue and margin: Management guided for 12% to 15% revenue growth and ₹30,000 crore in order intake for the year, while deferring margin guidance to the end of Q1 due to supply chain and cost dynamics in West Asia.