Bharat Heavy Electricals Limited (BHEL) has approved a further equity investment of ₹65 crore in NTPC BHEL Power Projects Private Limited (NBPPL), its 50:50 joint venture with NTPC Limited. The investment will be made in one or more tranches and is intended primarily to enable NBPPL to settle urgent liabilities and continue operations as a going concern.
The approval was granted by the BHEL Board of Directors at its meeting held on September 14, 2026. The company disclosed the decision pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
NBPPL is a joint venture between BHEL and NTPC, with each company holding a 50% equity stake. The company was incorporated in April 2008 with the objective of executing engineering, procurement and construction (EPC) contracts for power plants and manufacturing power plant equipment.
According to the disclosure, the proposed equity investment will be made by both promoter companies at face value and on an arm’s-length basis. The transaction has been identified as a related-party transaction due to the existing 50:50 joint venture relationship between BHEL and NTPC.
The investment is expected to be completed during FY 2026-27. No governmental or regulatory approval is applicable for the investment, while the consideration will be provided in cash.
BHEL will incur a cost of ₹65 crore at face value for the investment, while its shareholding in NBPPL will remain at 50%.
NBPPL reported a provisional turnover of ₹1.04 crore in FY 2025-26, compared with ₹3.48 crore in FY 2024-25 and ₹18.19 crore in FY 2023-24. The company has its presence in India.
