Diamond Power lands ₹435.71 cr cable order for 310 MW Hyderabad data centre
One of the largest single cable supply orders in India's data centre segment, covering 2,135 km of cable for EPC majors L&T, Sterling & Wilson, and Blue Star.
— 6 earlier stories on Diamond Power Infrastructure Ltd. →What's new
- Wins ₹435.71 cr order for HT and LT cables for 310 MW data center campus in Hyderabad.
- Supply to L&T, Sterling & Wilson, and Blue Star for five phases (HYD22-HYD26).
- Delivery Aug 2026–Mar 2027; price is variation-based linked to an industry index.
Why this matters
At 4.2% of market cap and roughly two months of quarterly revenue, this is a material contract that validates Diamond Power's position in the fast-growing data centre cabling segment. The order provides near-term revenue visibility, though variation pricing introduces margin uncertainty. Combined with the recent capacity expansion to 1,200 km/month and a ₹2,000 cr QIP headroom, the company is geared for growth. Execution will be the test.
What we're watching
- Execution of this scale and margin protection under variation pricing.
- Whether more data centre orders follow from the ₹4,600 cr pipeline.
- Impact on quarterly revenue trajectory from H2 FY27 onwards.
The full read
Diamond Power has landed one of the largest single cable supply orders in India's data centre segment: ₹435.71 cr for 2,135 km of HT and LT cables to power a 310 MW campus in Hyderabad. The cables go to L&T, Sterling & Wilson, and Blue Star, the EPC contractors building the five-phase HYD22-HYD26 project. Deliveries start in August 2026 and run through March 2027. The contract is priced on a variation basis tied to an industry index, which introduces some margin uncertainty. Still, the order validates Diamond Power's push into the data centre cabling space, a segment the company pegs at ₹4,600 cr in addressable pipeline over the next five years. The order comes just weeks after Diamond Power doubled its QIP ceiling to ₹2,000 cr and added 150 km/month of cable capacity. At 4.2% of market cap, this is a material win. The first real test will be whether the company can execute at scale.
Questions answered
- How big is this order relative to Diamond Power's revenue?
- The ₹435.71 cr order is roughly 63% of the ₹696 cr quarterly revenue reported for Mar 2026, implying around two months of sales visibility.
- Who are the end clients for the data centre campus?
- The filing does not name the ultimate data centre operator. The EPC contractors — L&T, Sterling & Wilson, and Blue Star — are executing the five phases of the 310 MW campus.
- What is the delivery timeline?
- Deliveries are scheduled to begin in August 2026 and run through March 2027, covering roughly two quarters.
- What is the risk from variation pricing?
- The contract price is linked to an industry index. If raw material costs rise faster than the index adjustment, margins could compress. This is standard in cable contracts but adds execution risk.
- How does this order fit with recent capacity expansion?
- In June 2026, Diamond Power added 150 km/month of cable capacity for ₹30 cr, taking total monthly MV/EHV capacity to 1,200 km. The 2,135 km order is manageable within this expanded capacity.
- Why is this considered a major order?
- The order size of ₹435.71 cr exceeds Diamond Power's materiality threshold. The company claims it is among the largest single cable supply orders in India's data centre segment.
Diamond Power Infrastructure Ltd.
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All notes on DIACABS →- 5 Jul 2026 · 9:48 PM IST Diamond Power lands ₹435.71 cr cable order for 310 MW Hyderabad data centre
- 17d ago Diamond Power doubles QIP ceiling to ₹2,000 cr, seeks to fix shareholding
- 23d ago Diamond Power mulls boosting its ₹1,000-cr QIP limit
- 32d ago Diamond Power adds 150 km of monthly cable capacity for ₹30 cr
- 40d ago Diamond Power's profit surges 355% in FY26 on power-infrastructure demand