Olectra Greentech Ltd.’s unit, EVEY Trans Pvt. Ltd., has secured a landmark order to supply, operate, and maintain 1,085 electric buses for intracity services in Telangana, marking a significant step in the state’s push for clean and sustainable urban transport.
The Telangana State Road Transport Corporation (TSRTC) awarded two Letters of Award totaling ₹1,800 crore to EVEY, according to a company filing on Monday, 23 February 2026. The contract includes 1,025 non-AC 12-metre electric buses and 60 AC 12-metre buses, which EVEY will deliver and operate over the next 20 months.
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Long-Term Contract Structure
The deal follows a Gross Cost Contract (GCC) or Opex model, a common approach in India’s public transport sector that reduces the upfront capital burden on state utilities. Under this 12-year agreement, Olectra Greentech will also provide ongoing maintenance and operational support, ensuring a steady revenue stream from recurring services.
Related-Party Transaction Compliance
The transaction has been classified as a related-party deal conducted on an “arm’s length” basis. The filing confirmed that neither Olectra’s promoters nor its group companies hold any interest in TSRTC, the awarding authority.
This order positions Olectra Greentech and EVEY at the forefront of India’s electric bus expansion, supporting Telangana’s commitment to greener and more efficient public transportation networks.