Hazoor Multi Projects has secured a significant contract valued at Rs 913 crore from Apollo Green Energy (formerly known as Apollo International) for the development of a 200 MW grid-connected solar photovoltaic (PV) project in Gujarat.
The project will be executed at the Gujarat State Electricity Corporation’s (GSECL) Renewable Energy Solar Park, located in Khavda (Stage-3). According to a regulatory filing, the scope of work includes the design, supply, construction, testing, and commissioning of the solar power facility. The project is slated for completion by March 2026.
The company clarified that neither its promoters nor its group entities have any related party interest in Apollo Green Energy. The transaction is being conducted on an arm’s length basis.
Notably, the order value exceeds Hazoor Multi Projects’ current market capitalization, which stands at Rs 866 crore.
Hazoor Multi Projects is primarily engaged in real estate development and road construction. Despite the recent order win, the company reported a 68.9% decline in consolidated net profit to Rs 16.78 crore for the fourth quarter of FY25, while net sales fell 46.2% year-on-year to Rs 249.47 crore.