Rajesh Power Services Limited (RSPL), a leading EPC contractor in the Power Transmission & Distribution sector, has signed multiple Memorandums of Understanding (MoUs) with the Government of Gujarat, marking a significant milestone in the state's infrastructure development. The agreements, valued at ₹4,754 crore, were inked during the inaugural Vibrant Gujarat Regional Conference (VGRC) 2025 held at Ganpat University in Mehsana.

Project Details and Impact

The MoUs outline RSPL's commitment to establish and execute turnkey projects for converting overhead High Tension (HT) lines into underground cable networks across various regions of Gujarat. This initiative is expected to have a substantial impact on both infrastructure and employment in the state:

Significance of the Agreement

The signing of these MoUs underscores the Gujarat government's commitment to modernizing its power distribution infrastructure. By transitioning to underground cable networks, the state aims to enhance the reliability and efficiency of its power distribution system, potentially leading to improved service for consumers and businesses alike.

Mr. Kurang Panchal, Managing Director of Rajesh Power Services Limited, expressed enthusiasm about the company's involvement in this transformative project. He stated, "Each of these MoUs signed today marks a significant step toward strengthening the state's robust power distribution infrastructure and enhancing reliability for communities across the region."

Vibrant Gujarat Regional Conference 2025

The MoUs were signed on the first day of the Vibrant Gujarat Regional Conference 2025, a two-day business summit inaugurated by Gujarat Chief Minister Shri Bhupendra Patel and Union Minister Shri Ashwini Vaishnaw. The event, which runs from October 9 to 10, 2025, serves as a platform for fostering business partnerships and attracting investments to the state.

Company Background

Rajesh Power Services Limited, headquartered in Ahmedabad, has been a key player in the power sector for over five decades. The company specializes in Engineering, Procurement & Construction (EPC) services, focusing on power transmission and distribution projects. RSPL's expertise spans various areas, including:

• GIS Substations
• AIS Substations
• Extra High Voltage Power Cables
• Transmission Lines
• Distribution Systems Construction

This latest agreement with the Gujarat government reaffirms RSPL's commitment to contributing to the state's development and supporting its vision of becoming a model state in power sector reforms and infrastructure modernization.

The successful execution of these projects is expected to not only enhance Gujarat's power infrastructure but also contribute significantly to the state's economic growth and employment opportunities in the coming years.

Rajesh Power Services Limited (RPSL), a key player in the power infrastructure sector, has announced significant business developments that are set to bolster its order book and market position.

New Order Details

RPSL has secured two major contracts in Gujarat:

1. Orders worth ₹182.62 crore from Madhya Gujarat Vij Company Limited (MGVCL)
2. Orders worth ₹95.00 crore for Gas Insulated Switchgear (GIS) substations

MGVCL Contract

• Value: ₹182.62 crore
• Scope: Turnkey contract to convert existing 11kV HT networks to underground cable/MVCC under SI scheme
• Coverage: Jurisdictions of Mehmedabad, Anand, Petlad, and Nadiad under MGVCL
• Timeline: To be executed within 12 months

GIS Substations Contract

• Value: ₹95.00 crore
• Scope: Supply, installation, testing, and commissioning of:
  • 400kV/33kV GIS Substations
  • 66kV/33kV GIS Substations
• Timeline: To be completed within 12 months

Project Scope and Timeline

Both projects have a 12-month execution timeline, demonstrating RPSL's capability to handle multiple large-scale projects simultaneously.

Client and Contract Information

• The MGVCL contract was awarded by a domestic entity and falls under the company's normal course of business.
• The GIS substations contract was awarded by a private company operating in a similar line of business.
• Neither contract involves related party transactions, and the promoter group has no interest in the entities awarding the contracts.

Financial Impact

The total value of the new orders, including taxes, stands at ₹277.62 crore.

Strategic Significance

These orders are significant for Rajesh Power Services for several reasons:

1. Market Presence: The projects strengthen RPSL's footprint in Gujarat, a state known for its industrial growth and power infrastructure needs.
2. Technical Expertise: The orders showcase RPSL's capabilities in both underground cable conversion and advanced GIS substation technologies.
3. Order Book Enhancement: The ₹277.62 crore addition to the order book provides improved revenue visibility.
4. Diversification: The contracts demonstrate RPSL's ability to secure projects from both public sector undertakings (MGVCL) and private entities.

Compliance and Transparency

In line with regulatory requirements, Rajesh Power Services has disclosed these material developments to the BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.