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K2 Infragen lands Rs 262 crore Indian Railways power project
GURUGRAM: K2 Infragen has kicked off 2026 with a big-ticket win. The infrastructure engineering firm has secured a Rs 262 crore contract from Indian Railways, marking one of its largest railway power projects to date and cementing its ambitions in the rail electrification space.
The letter of award covers the design, supply, erection, testing and commissioning of a 2x25kV AC 220/132/55kV traction substation, along with sectioning posts, sub-sectioning posts and SCADA systems, across the Luni (including) to Bhildi (excluding) double-line section of the Jodhpur division under North Western Railway.
The project has been awarded to K2 Infragen in a joint venture with Salasar Techno Engineering, with K2 Infragen as the lead partner holding a 74 per cent stake. The work will strengthen power infrastructure along the Luni–Bhildi corridor, a key railway stretch in Rajasthan.
Calling the order a turning point, K2 Infragen’s managing director, Pankaj Sharma, said the win signalled the company’s readiness to execute multiple projects worth more than Rs 250 crore simultaneously. He added that the contract would boost shareholder confidence and move K2 Infragen closer to India’s top tier of infrastructure players.
Calling it a validation of the company’s growth trajectory, K2 Infragen’s chief financial officer, Priyanka Pareek, said the order underlined its expanding role in India’s railway and transmission investment cycle. With the order book now crossing Rs 500 crore, she said K2 Infragen was entering a phase of aggressive but disciplined growth, backed by both revenues and profitability.
Founded in 2015, K2 Infragen is a publicly listed EPC player with operations spanning roads, railways, power transmission and distribution, civil construction, water infrastructure and renewable energy. Its client roster includes North Western Railway, NHAI, HSIIDC, Hindustan Copper, Vindhya Telelinks, Larsen & Toubro, Tata, HG Infra and GR Infra, with projects spread across more than ten states.
By spreading its bets across sectors and regions, the company has reduced dependence on any single domain while building scale and margins. With fresh orders, deeper rail credentials and a swelling pipeline, K2 Infragen is signalling one thing clearly: it wants a bigger seat at India’s infrastructure table-and it wants it fast.
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Jubilant FoodWorks faces Rs 47.5 crore GST demand, plans appeal
Tax authorities flag alleged misclassification of restaurant services
MUMBAI:Â Jubilant FoodWorks Limited has landed in a tax tussle after receiving a GST demand of Rs 47.5 crore from the office of the additional commissioner of CGST and central excise in Thane, Maharashtra.
The order, issued under the provisions of the Central Goods and Services Tax Act, 2017, relates to an alleged incorrect classification of certain services under the category of restaurant services. According to the tax authorities, this classification resulted in a short payment of goods and services tax for the period between the financial years 2019-20 and 2021-22.
The demand includes Rs 47.5 crore in GST along with an equal amount as penalty, in addition to applicable interest. The order was received by the company on March 13, 2026.
In a regulatory filing to the BSE Limited and the National Stock Exchange of India Limited, the company said it disagrees with the order and believes its arguments were not adequately considered.
The company is preparing to challenge the decision and plans to file an appeal. It added that once the redressal process is complete, the demand is likely to be dropped.
Despite the sizeable figure attached to the notice, the company said it does not expect any material impact on its financials, operations or other activities.
The disclosure was signed by Suman Hegde, EVP and chief financial officer, who confirmed that the company received the order at 19:06 IST on March 13 and has already initiated steps to contest it.
The development places the quick service restaurant major in the middle of a tax debate that could hinge on how certain restaurant-linked services are classified under GST rules. For now, the company appears ready to take the matter from the tax office to the appeals desk.
