Rajesh Power gains on securing Rs 60-cr order for power project in Gandhinagar

The contract awarded covers the development of distribution and backup power systems in the SEZ and DTA zones of GIFT City.

As per the agreement, Part A involves setting up grid power supply infrastructure across both SEZ and DTA areas. Part B focuses on establishing backup power arrangements exclusively for the SEZ area, while Part C pertains to the expansion of substation feeders in the DTA zone. The project is aimed at enhancing the power reliability and operational readiness of GIFT City's growing infrastructure.

The nature of the contract pertains to a power supply arrangement within GIFT City. This is a domestic order with a total contract value of Rs 59.79 crore.

The project is scheduled to be executed over a period of 18 months, encompassing the development and installation of both grid and backup power systems across the SEZ and DTA zones of the city.

The company confirmed that the promoter, promoter group, or group companies have no interest in the entity that awarded the contract, and therefore the disclosure is not applicable. Additionally, the contract does not fall under related party transactions, making the question of arm's length pricing not applicable.

Rajesh Power Services (RPSL) provides consultancy to state transmission and distribution companies, private utilities, and industries.

On full-year basis, the company's net profit surged 285.5% to Rs 26.02 crore on 37.5% jump in net sales to Rs 284.97 crore in FY25 over FY24.