India's power transmission landscape is undergoing a historic transformation to connect renewable-rich zones with surging demand centers, driven by data centers, electric railways, and industrial modernization. The central government’s ₹2.4 lakh crore investment roadmap for FY30 is creating a multi-year growth runway for companies capable of handling complex grid architecture. This Financial Express analysis identifies three frontrunners currently dominating the order books:

1. Hitachi Energy (The Grid Architect): Positioned as a high-margin player, Hitachi is the go-to for sophisticated HVDC (High Voltage Direct Current) projects and digitization. With a ₹29,413 crore order book as of September 2025, it is leveraging global expertise to modernize India's grid and serve rising demand from data centers (estimated at 15-20% of total data center capex).

2. Kalpataru Projects (The Multi-Vertical Powerhouse): Boasting a record consolidated order book of ₹64,682 crore, Kalpataru offers over three years of revenue visibility. The company has seen a 44% year-on-year surge in Transmission & Distribution (T&D) revenue, maintaining double-digit margins while diversifying across urban infrastructure and international markets.

3. KEC International (The Desert Windfall): Known for its aggressive expansion in the Middle East and renewable integration at home, KEC’s order book reached ₹39,325 crore by late 2025. T&D accounts for 65% of its backlog, making it a pure-play winner in the global race for energy transition infrastructure.

Collectively, these firms are not just building towers; they are creating the digital and physical "spine" of India's new energy economy, positioning themselves as critical infrastructure giants for the next decade.