A unit of Olectra Greentech Ltd. has won an order to supply 1,085 electric buses to Telangana, amid a push for clean mobility sweeping Indian states.
EVEY Trans Pvt. Ltd. has received two so-called Letters of Award worth a total of ₹1,800 crore from the Telangana State Road Transport Corporation for supply, operation and maintenance of 1,085 electric buses for intracity operations, according to an exchange filing on Monday (23 February 2026).
- The order includes 1,025 units of 12-metre Non-AC electric buses and 60 units of 12-metre AC electric buses.
- Olectra Greentech, which is the primary supplier to EVEY, has to complete the order within the next 20 months.
The contract is structured under a Gross Cost Contract (GCC) or Opex model, a common framework in Indian public transport intended to reduce the upfront capital burden on state utilities.
The agreement spans a 12-year contract period, ensuring a long-term revenue stream for Olectra Greentech through recurring maintenance and operational support.
The transaction qualifies as a related-party transaction conducted on an “arm’s length” basis. No interest from Olectra’s promoters or group companies was reported in TGSRTC—the awarding entity.