Rajesh Power Services Ltd secured a ₹471.92 crore turnkey contract from Madhya Gujarat Vij Company Limited (MGVCL) to enhance electricity distribution infrastructure in Gujarat, the company announced on Monday. This order has pushed Rajesh Power's total order book close to ₹4,000 crore, marking a significant boost for the power utility contractor, according to livemint.com.
The order win was disclosed in an exchange filing, highlighting that the contract is inclusive of taxes and will be executed over 18 months. Following the announcement, Rajesh Power shares opened at ₹747 on the BSE and surged to an intraday high of ₹789, reflecting a 5% rise amid broader market declines. The contract adds more than 10% to the company's existing order book, signaling strong demand for its EPC services in power transmission and distribution.
This contract win is notable in the context of the Indian power sector, where infrastructure upgrades are critical to meeting growing electricity demand. Rajesh Power Services, a specialized EPC contractor, competes with other firms in the sector by securing large-scale projects that enhance grid reliability. The ₹4,000 crore order book positions the company well compared to peers, underscoring its expanding footprint in power infrastructure development.
The company’s next quarterly financial results, expected in late October, will reveal how this order impacts revenue recognition and profitability. The ₹471.92 crore contract from MGVCL is among the largest single orders Rajesh Power has secured this year, reinforcing its role in Gujarat’s power distribution upgrades, as reported by livemint.com.