Rajesh Power Services Secures Massive ₹1,628.74 Crore Gujarat Power Distribution Contract, Order Book Surges 35% To Nearly ₹5,400 Crore As Company Accelerates Underground Cabling Expansion

Mumbai: Rajesh Power Services Limited has secured a major turnkey contract worth ₹1,628.74 crore, including taxes, from Dakshin Gujarat Vij Company Limited (DGVCL), strengthening its position in India's electricity distribution infrastructure sector.

The company announced the order on November 5, 2026, stating that the project involves converting existing overhead electricity distribution networks into underground cable systems across multiple locations in Gujarat.

Project Details

The contract covers the conversion of existing 11/22kV high-tension (HT) and low-tension (LT) overhead distribution networks into underground cable infrastructure. The project will be executed under DGVCL's distribution network development programme. Rajesh Power Services is expected to complete the work within 24 months.

Technology Upgrade

The project includes the installation of equipment compatible with Supervisory Control and Data Acquisition (SCADA) systems. SCADA-compatible infrastructure supports remote monitoring and control of electricity distribution networks. The underground cabling work will contribute to the modernisation of power distribution infrastructure in Gujarat.

Order Book

The latest contract represents a significant addition to the company's project portfolio. According to the announcement, Rajesh Power Services' order book is expected to increase approximately 35 per cent to around ₹5,400 crore. The company had earlier reported an order book of approximately ₹4,000 crore. It had also secured a separate contract worth ₹471.92 crore from Madhya Gujarat Vij Company Limited (MGVCL).

Revenue Growth

Rajesh Power Services reported 46 per cent year-on-year revenue growth during the first half of FY27. Management indicated that the expansion was accompanied by healthy profitability and improved cash generation. The performance reflects increased business activity during the April-September period.

Business Outlook

The ₹1,628.74 crore contract strengthens the company's presence in power distribution infrastructure. The growing order book provides visibility into future project execution, subject to contractual timelines and implementation progress. Investors will monitor project execution, revenue recognition and working capital requirements as the company undertakes its expanding infrastructure portfolio.

Disclaimer: This report is based on company exchange filings and is for informational purposes only. Investors should independently assess risks before investing.