Mumbai: Rajesh Power Services Limited announced on Thursday that it has received an order valued at Rs 653.12 crore from Paschim Gujarat Vij Company Limited (PGVCL) for the conversion of existing 11kV high tension and low tension lines into an underground cable network.
Project Scope
The order includes establishing a ring main system with GIS mapping and asset tagging. The work will be carried out in Bhavnagar, Anjar, Junagadh, and Porbandar Circles within Gujarat.
Contract Details
The contract is a turnkey project, indicating Rajesh Power Services will handle all aspects from design to completion. This domestic order was received in the normal course of business, according to the company.
Execution Timeline
Rajesh Power Services expects to complete the order within 18 months from the date of award. The company did not disclose a specific start date for the project.
Financial Impact
The Rs 653.12 crore value includes all applicable taxes. This order is a substantial addition to the company's current project pipeline and is expected to contribute to its revenue in the coming fiscal periods.
No Related Party Transaction
The company confirmed that neither its promoter nor the promoter group has any interest in PGVCL. Additionally, the order does not fall under related party transactions.
Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.
