Olectra Greentech Secures Rs. 1,800 Crore Order for 1,085 Electric Buses

Olectra Greentech Limited has informed the exchange about securing an order from the Telangana State Road Transport Corporation (TGSRTC) for the supply, operation, and maintenance of 1,085 electric buses. The order was communicated on February 23, 2026, and is valued at approximately Rs. 1,800 Crores.

The order comprises 1,025 non-air-conditioned 12-meter buses and 60 air-conditioned 12-meter buses. These buses are intended for intra-city operations. The contract is based on a Gross Cost Contract (GCC) model, which will be in effect for a period of 12 years. The buses are expected to be delivered over a period of 20 months.

Evey Trans Private Limited, a related entity, has received two Letters of Award from TGSRTC for this project. Evey will procure the buses from Olectra Greentech. The maintenance of these buses during the contract period will also be undertaken by Olectra. The transaction between Olectra and Evey is categorized as a related party transaction and will be conducted on an arm’s length basis.

The order from TGSRTC represents a significant engagement for Olectra in the electric vehicle sector, focusing on enhancing public transportation infrastructure with electric buses. This contract aligns with the company’s ongoing efforts to expand its presence in the electric mobility space.

Olectra Greentech Limited is a prominent player in the electric vehicle industry, specializing in the manufacturing and supply of electric buses. The company is committed to advancing sustainable transportation solutions and expanding its market footprint in the electric mobility sector.