EveyTrans Private Limited

What EveyTrans Private Limited does

EveyTrans Private Limited is an electric bus operator headquartered in Hyderabad, India, incorporated in 2018 as a wholly-owned subsidiary of Megha Engineering and Industries Limited (MEIL). It runs a 100% electric bus fleet of more than 3,500 vehicles across seven states and two Union Territories, positioning itself as India's largest electric bus operator. Customers are exclusively public-sector State Transport Undertakings (STUs) and municipal corporations, served under long-tenure Gross Cost Contract (GCC) arrangements in which EveyTrans owns and operates the buses, charging, and depot assets while the counterparty pays a per-kilometer fee and retains fare-box revenue.

Operations are anchored by marquee contracts including a Rs ~10,000 crore (~USD 1.2B) award from MSRTC for 5,150 buses in partnership with Olectra Greentech, additional orders from BEST Mumbai (4,500), PMPML Pune (650), and TGSRTC Hyderabad (310), plus deployments in Surat, Goa, Nagpur, Bengaluru, Puducherry, Silvassa, Tirupati, and Dehradun. Service lines extend beyond municipal city routes to include intercity luxury operations (Pune-Mumbai) and women-only buses branded "Tejaswini." Fleet operations are supported by GPS tracking, battery and telematics monitoring, and dedicated depot-charging infrastructure across multiple cities.

The revenue model is kilometer- and milestone-based GCC invoicing to government counterparties, with revenue concentration entirely in the public sector. Fleet procurement, capex, and working capital are funded internally via MEIL; no external equity or debt rounds are disclosed. The MSRTC contract alone, if amortized over its typical GCC tenure, implies annualized revenue in the USD 100M+ range, with the broader 3,500-bus fleet materially above that on a fully-deployed basis.

Name

EveyTrans Private Limited

Legal name

EVEY TRANS PRIVATE LIMITED

Website

https://eveytrans.com

Company type

Private

Founded year

2018

Operating status

Operating

Short description

EveyTrans Private Limited, a Hyderabad-based MEIL subsidiary founded in 2018, operates India's largest 100% electric bus fleet of 3,500+ vehicles across seven states and two Union Territories, serving State Transport Undertakings under long-tenure Gross Cost Contracts.

Ownership category

akta.pro rank

Product category

Electric Public Transportation Services

NAICS

Interurban and Rural Bus Transportation (48521), Interurban and Rural Bus Transportation (485210), Interurban and Rural Bus Transportation (4852)

SIC

Transportation Services (4700)

akta.pro primary industry

Rural/Small-Town Public Bus Operators (TLAFAGAD)

akta.pro secondary industries

Rural & Small-Town Intercity Scheduled Bus Operators (THAIADAF), Corporate Mobility & Car Sharing / Pool Fleet Management (TLABAHAO)

Keywords

• Electric bus operations
• Public transport services
• Fleet management services
• EV charging infrastructure
• Government transport contracts

Headquarters

HQ city

Hyderabad

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Supply Chain

Revenue model

1. Gross Cost Contract (GCC) Services: EveyTrans operates as an e-bus service provider under Gross Cost Contract model with State Transport Undertakings. The company provides end-to-end solutions including bus supply, operation, maintenance, crew recruitment, and revenue collection on behalf of government transport corporations. Revenue is earned through contractual payments from government agencies for fleet operations.
2. Wet Lease Arrangement: Supplying and operating electric buses under wet lease arrangements where EveyTrans provides buses, drivers, and maintenance services to transport corporations.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

EveyTrans Private Limited operates and maintains electric bus fleets for State Transport Undertakings (STUs) and municipal transport corporations across India under Gross Cost Contract (GCC) arrangements. The company provides end-to-end solutions including bus deployment, operations, crew recruitment, maintenance, charging infrastructure manufacturing and deployment, and telematics-enabled fleet management. Services are delivered under sub-brands including Tejaswini (women-only buses), Green Metro (intracity), Pushpak (airport shuttles), and E-Garuda (intercity coaches).

Product overview

EveyTrans Private Limited is India's largest electric bus operator providing comprehensive zero-emission public transport solutions. The company operates exclusively on a 100% electric bus fleet model, offering end-to-end solutions that include electric bus fleet operations and charging infrastructure maintenance. The product portfolio centers on operating and maintaining Olectra Electric Buses for State Transport Undertakings (STUs) under Gross Cost Contract (GCC) arrangements. Key service brands include Tejaswini (women's electric bus service), Green Metro and Green Metro Luxury AC E-Bus (intracity services), Pushpak (airport shuttles), and E-Garuda (intercity luxury coaches). The company has deployed 3,500+ electric buses across 14+ cities in 7 states and 2 Union Territories, with the largest fleet in Maharashtra, and operates India's first long-distance intercity electric bus service between Pune-Mumbai.

Differentiator

Problem solved

Functional benefit

Brands

• Tejaswini: Women-only electric bus service with women drivers, conductors and employees, launched in Nagpur.
• Green Metro
• Pushpak
• E-Garuda

Products and services

• Electric Bus Fleet Operations
• Charging Infrastructure and Maintenance
• Tejaswini Bus Service
• Green Metro Bus Service
• Pushpak Airport Shuttle Service
• E-Garuda Intercity Coach Service
• Olectra Electric Bus Fleet Operations

Quantifiable outcome

• 62+ crore kilometers completed with zero emissions
• +5 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Olectra Greentech LtdcoreStrategic or Co-development PartnerConsortium partnership with Olectra Greentech for execution of large-scale electric bus contracts. The consortium was awarded a ₹10,000 crore contract from MSRTC for 5,150 electric buses. Olectra supplies the buses while EveyTrans handles operations and maintenance through an SPV.
• Mumbadevi Mobility Private LimitedminorOthersWet lease arrangement where Mumbadevi Mobility supplies 122 PMI-make buses for BEST fleet operations in Mumbai.
• MEIL (Megha Engineering and Industries Limited)coreOthersEvey Trans is a subsidiary of MEIL, providing corporate backing and potential synergies in engineering and infrastructure projects.

Scale indicators9 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• JBM Auto Limited: Indian automotive player with electric bus manufacturing (JBM Ecolife) and growing involvement in e-bus operations and depots. Comparable as both bus OEM and emerging e-bus operator competing for similar STU tenders, though smaller scale than EveyTrans.

Direct peers

• GreenCell Mobility: India-focused electric bus operator under the Convergence Energy Services Ltd (CESL) umbrella, operating electric intercity and intracity bus services on GCC model with STUs. Directly comparable to EveyTrans as a competing e-bus operator targeting the same government transport undertaking contracts.
• PMI (Mumbadevi Mobility Private Limited): Bus leasing and mobility company that has wet lease arrangements with BEST Mumbai for electric bus operations, parallel to EveyTrans's BEST contracts. Comparable business model as fleet operator supplying e-buses to STUs on managed service / wet lease basis.
• Olectra Greentech Limited: EveyTrans's primary bus supply partner and consortium member for the Rs 10,000 crore MSRTC contract. Olectra manufactures the electric buses that EveyTrans operates, making it both supplier and partner. Comparable through shared contract execution and overlapping e-bus GCC ambitions.

Broad incumbents

• Tata Motors Limited (E-Buses): India's largest commercial vehicle manufacturer with electric bus product line (Tata Starbus EV) and direct participation in STU tenders. Competes with EveyTrans/Olectra consortium for major electric bus contracts and has deeper OEM resources.
• BYD India: Chinese EV maker with significant electric bus operations in India through partnerships with STUs and fleet operators. Comparable as an electric bus OEM and operator competing for the same Indian government tenders, with deeper technology stack but smaller India presence than EveyTrans.
• VE Commercial Vehicles (Eicher): Indian commercial vehicle manufacturer with growing electric bus portfolio under the Eicher brand. Competes for STU tenders and brings Volvo group's EV technology to the Indian bus market. Adjacent to EveyTrans's operations through competing OEM offerings.
• Ashok Leyland Limited: Parent company of Olectra Greentech and India's largest bus manufacturer. The Olectra-EveyTrans consortium relationship directly ties Ashok Leyland into the GCC e-bus space. Ashok Leyland's broader CV portfolio and switch mobility EV arm make it a strategic competitor in government e-bus procurement.

Others

• BEST (Brihanmumbai Electric Supply and Transport): Largest municipal bus operator in Mumbai and a key EveyTrans customer (4,500 bus order). Functions as a potential competitor if BEST chooses to insource e-bus operations rather than lease from operators like EveyTrans. Customer-competitor dual dynamic.
• MEIL (Megha Engineering and Infrastructures Limited): Parent conglomerate of EveyTrans and one of India's largest infrastructure EPC companies. Provides corporate backing, capital access, and engineering synergies for EveyTrans's e-bus operations. Parent-subsidiary relationship creates both support and corporate governance considerations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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 EveyTrans Private Limited