Vikran Engineering & Exim

Name

Vikran Engineering & Exim

Legal name

VIKRAN Engineering Limited

Website

https://vikrangroup.com

Company type

Public

Founded year

2008

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Vikran Engineering Limited is an Indian EPC contractor delivering turnkey power infrastructure — transmission up to 765 kV, EHV substations, solar PV, railway electrification, and water projects — for government utilities, PSUs, and select private clients across 17+ states.

Ownership category

akta.pro rank

Product category

Infrastructure EPC Services

NAICS

Power and Communication Line and Related Structures Construction (237130), Electric Power Generation, Transmission and Distribution (2211), Solar Electric Power Generation (221114), Engineering Services (541330), Water Supply and Irrigation Systems (221310)

SIC

Electric, Gas & Sanitary Services (4900)

akta.pro primary industry

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ)

akta.pro secondary industries

Distribution Substations & Switching Stations (MV) EPC (EUAEACAC), Electrical Balance-of-Plant EPC (MV Collection, Cabling, Earthing, Lighting) (EUAEADAB), Commissioning, Testing & Energization Services (Pre-Commissioning, Grid Code Compliance) (EUAMAFAK)

Keywords

• Power transmission EPC
• EHV substation construction
• Solar EPC services
• Railway electrification
• Water infrastructure projects

Headquarters

HQ city

Thane

HQ country

India

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Infrastructure, Marketing or Sales

Revenue model

1. EPC Project Revenue: One-time project-based revenue from engineering, procurement, and construction contracts. Revenue is recognized upon project completion and delivery. Major project types include power transmission lines, substations, distribution networks, solar installations, railway electrification, and water infrastructure projects. Government contracts (PSUs, state utilities) and private sector projects constitute the client base.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Vikran Engineering Limited is an Indian EPC (Engineering, Procurement and Construction) company providing turnkey infrastructure services across power, water, and railway sectors. Its offerings include high-voltage power transmission lines up to 765 kV, EHV substations (AIS/GIS) up to 400 kV, rural and urban power distribution networks, solar PV EPC projects up to 100 MWp, railway and metro electrification (OHE and traction substations), and water treatment and distribution systems. The company executes end-to-end projects from conceptualisation, design, supply, installation, testing and commissioning for government entities, PSUs, and private clients.

Product overview

Vikran Engineering Limited is an EPC (Engineering, Procurement and Construction) company offering integrated infrastructure services. The company provides end-to-end turnkey solutions from conceptualization, design, supply, installation, testing and commissioning across multiple sectors. Its core service portfolio consists of six main offerings: Power Transmission (high-voltage lines up to 765 kV and substations up to 400 kV), EHV (GIS/AIS) Substation (turnkey substation solutions), Power Distribution (rural and urban electrification), Solar Power (solar EPC up to 100 MWp, BoS up to 300 MWp), Railway And Metro Electrification (OHE and traction infrastructure), and Water Segment (water treatment and distribution systems). The company operates across 17+ states in India with 44 completed projects and 34 ongoing projects, serving government entities, public sector undertakings, and private companies.

Differentiator

Problem solved

Functional benefit

Products and services

• Power Transmission Turnkey EPC construction of high-voltage transmission lines up to 765 kV, substations up to 400 kV (AIS and GIS), and advanced transmission and distribution networks for efficient energy transfer. Serves state-owned electricity utilities, PGCIL, and private infrastructure developers.
• EHV (GIS/AIS) Substation Turnkey EPC solutions for high-voltage substations up to 400 kV including Air Insulated Substations (AIS) and Gas Insulated Substations (GIS). Integrates advanced EHV engineering and state-of-the-art technology for substation installation that enhances power transmission efficiency and grid stability.
• Power Distribution Electrification projects for rural and remote areas including distribution network expansion, infrastructure upgrades, and smart metering solutions. Designed to deliver seamless energy access to underserved communities through government schemes such as Saubhagya, DDUGJY, and IPDS.
• Solar Power Turnkey solar EPC services including engineering, procurement, and construction of grid-connected solar PV systems up to 100 MWp and balance of system projects for solar power plants up to 300 MWp. Serves solar project developers, NTPC Renewable Energy, and state utilities under schemes such as PM-KUSUM.
• Railway And Metro Electrification Overhead electrification (OHE), traction substations, and transmission networks for India's expanding railway and metro networks, including construction of 220 kV and 132 kV TSS lines and SCADA integration. Serves Indian Railways zones such as East Central Railway.
• Water Segment End-to-end water infrastructure solutions including water treatment plant setup, water distribution networks, rainwater harvesting systems, and surface and underground drinking water projects under the Har Ghar Jal Yojana. Serves state water utilities and Jal Jeevan Mission projects.

Quantifiable outcome

• Delivered over 200 km of transmission lines up to 765 kV voltage
• +5 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Six partnerships are on record, tiered minor, core and major.

• MarsonsminorImplementation/ SI/ Consulting Partner · 10 June 2026Marsons received an order worth Rs 33.19 crore from Vikran Engineering for supply of inverter-duty transformers for an NTPC Renewable Energy project. Marsons will supply 17.6 MVA, 8.8 MVA and 4.4 MVA oil-cooled transformers for the project.
• NOPL Solar Projects Private LimitedcoreStrategic or Co-development Partner · 7 May 2026Vikran Engineering acquired 51% stake in NOPL Solar Projects Private Limited (acquired remaining 49% after initial acquisition, making it a wholly owned subsidiary). NOPL Solar Projects develops and operates a 969 MW grid-connected solar power project in Maharashtra under the PM-KUSUM Scheme. Total acquisition value Rs 4.90 crore for initial 49% stake. This acquisition expands Vikran's presence in renewable energy sector through business diversification into solar asset ownership.
• Maharashtra State Electricity Distribution Co. Limited (MSEDCL)coreStrategic or Co-development Partner · 28 April 2026Vikran Engineering received two Letters of Award totaling Rs 530.80 crore from MSEDCL for power infrastructure projects in Nashik and Kolhapur zones. These ADB-funded projects cover end-to-end activities for strengthening distribution networks as part of Power Distribution Enhancement Program. Completion timeline is 21 months.
• M.P. Urja Vikas Nigam LimitedmajorStrategic or Co-development Partner · 29 December 2025Vikran Engineering secured a 45.75 MW solar project in Madhya Pradesh from M.P. Urja Vikas Nigam Limited under the PM KUSUM-C scheme. This order was part of multiple solar project awards totaling approximately Rs 2,494 crore.
• NTPC Renewable Energy LimitedcoreStrategic or Co-development Partner · 26 December 2025Vikran Engineering secured a Rs 459.20 crore EPC contract from NTPC Renewable Energy Limited for a 400 MW solar project in Uttar Pradesh. This is a major order win that strengthens the company's solar EPC portfolio.
• Onix Renewables LimitedcoreStrategic or Co-development Partner · 24 December 2025Vikran Engineering received a work order worth Rs 2,035.26 crore from Onix Renewables (SPV) for development of 600 MW AC solar power projects across multiple locations in Maharashtra. Turnkey EPC contract includes design, engineering, procurement, supply, installation, testing, and commissioning within 12 months.

Scale indicators20 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• KEC International: One of India's largest power transmission EPC contractors. Directly comparable on 765 kV transmission line and substation EPC, with a similar government/PSU client mix and similar revenue scale - the most direct public-market peer for Vikran.
• Kalpataru Projects International: Diversified Indian EPC company with direct overlap in power transmission, railway electrification, and oil & gas pipeline construction. Comparable business model of multi-vertical turnkey EPC execution for government and private clients.
• Skipper Limited: Indian power T&D EPC player with comparable exposure to transmission line and distribution EPC, including monopole and tower work. Closely matches Vikran's mid-cap EPC positioning in the domestic market.
• Transrail Lighting: Indian EPC contractor focused on power transmission lines, substations, and distribution infrastructure, including railway electrification. Directly comparable scale and segment mix to Vikran.
• Techno Electric & Engineering Company: Indian power infrastructure EPC company with direct overlap in EHV substations, transmission lines, and balance-of-plant work, comparable in size and segment focus to Vikran.
• Sterling and Wilson Renewable Energy: Major Indian solar EPC contractor executing utility-scale PV projects globally. Most directly comparable to Vikran's solar EPC business, especially the 100 MWp PV and 300 MWp BoS segments.

Emerging players

• Waaree Renewable Technologies: Indian solar EPC and renewable energy player with comparable turnkey PV execution capability. Smaller and more solar-focused than Vikran but operates in the same end-markets with NTPC, state utilities, and PSUs.

Broad incumbents

• Tata Projects: Large, diversified Indian EPC incumbent spanning power T&D, railways, water, and urban infrastructure. Competes with Vikran on government tenders but at materially larger scale across multiple verticals.
• Larsen & Toubro (L&T) Construction: India's largest EPC conglomerate with extensive overlap in power transmission, substations, railway electrification, and water infrastructure. Represents the upper bound of competition on large government tenders.
• Adani Energy Solutions: Owns and operates India's largest private power transmission network and also undertakes EPC for transmission, distribution, and smart metering. Comparable on transmission/substation execution and increasingly on solar EPC, but at vastly larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks2 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Vikran Engineering & Exim