The appointment was made during a board meeting held on 4 April 2025, following recommendations from the Nomination and Remuneration Committee and the Audit Committee. Nitesh Bhandari will serve as CFO & Joint President of the company.
Nitesh Bhandari is a chartered accountant with over 26 years of extensive experience in the finance sector. Prior to joining Bajel Projects, he served as the CFO & Executive Director of Gujarat Gas, a prominent BSE-listed infrastructure services company, where he successfully led the finance, accounts, and investor relations departments.
Rajesh Ganesh, managing director and CEO, said, “We are confident that Nitesh's vast and strong expertise in finance and investor relations will be invaluable as Bajel continues to strategically grow the business sustainably going forward.”
Nitesh succeeds Binda Misra, who has decided to pursue interests outside of Bajel Projects after 28 years of dedicated service. Bajel Projects expresses its gratitude to Binda Misra for his dedication and commitment to the company and wishes him all the best in his future endeavors.
“I am thrilled to join the dynamic team at Bajel Projects as CFO & Joint President. I look forward to working with the team to contribute to the company's continued growth, financial stability, and strategic objectives,” said Nitesh.
Building and implementing Bajel’s overall financial strategy in alignment with its business goals will be one of Nitesh’s key responsibilities as he takes the reins at Bajel Projects.
Bajel Projects (BPL) is a leading company in the business of power infrastructure, with a strong presence in the power transmission and power distribution sectors.
The company’s net profit fell 56.55% to Rs 1.46 crore in Q3 FY25 as against Rs 3.36 crore posted in Q3 FY24. Revenue from operations stood at Rs 622.38 crore in the quarter ended 31 December 2024, up 126.25% from Rs 275.08 crore in the same quarter the previous fiscal.
The scrip fell 5.99% to end at Rs 158.60 on Friday, 4 April 2025.