Rajesh Power Secures ₹2.12 Billion Odisha Transmission Project

BHUBANESWAR — Integrated power infrastructure and technology company Rajesh Power Services Limited has officially secured a massive domestic engineering contract valued at ₹2.12 billion ($25.4 million) from the Odisha Power Transmission Corporation Limited (OPTCL). According to regulatory compliance notes filed with national stock exchanges on June 17, 2026, the turnkey project encompasses the complete engineering, procurement, and construction (EPC) deployment of extra-high voltage transmission lines and grid substations across selected state circles.

The landmark multi-billion-rupee contract represents a major geographical expansion milestone for the Ahmedabad-headquartered firm. By successfully capturing a high-value state utility mandate in eastern India, the enterprise is effectively demonstrating its capability to replicate its regional project execution success outside its traditional operations base in western India.

Strategic Value and Turnkey EPC Project Scope

According to the statutory disclosure notes filed under corporate listing obligations, the scope of the ₹2.12 billion contract binds the contractor to absolute, end-to-end grid integration responsibilities. The firm will manage all critical phases of the distribution lifecycle, including custom design architecture, material manufacturing, supply chain logistics, structural erection, final system testing, and operational commissioning.

The underlying technical framework of the tender focuses on mitigating transmission losses while safeguarding regional grids against climate-induced structural damage. By utilizing extra-high voltage (EHV) underground cable systems and specialized gas-insulated switchgear (GIS) substations, the infrastructure roll-out is engineered to protect critical electrical distribution loops during heavy monsoon and cyclonic disturbances characteristic of the eastern coastal seaboard.

Strengthening Order Book and Financial Momentum

Financial analysts tracking primary infrastructure equities note that this latest intake provides long-term revenue visibility across the upcoming trailing quarters. The ₹2.12 billion allocation adds to an active order backlog that stood firmly at ₹3,326 crore at the close of the previous fiscal cycle.

The ongoing deal momentum matches a robust trajectory of top-line and bottom-line expansion for the utility major. Consolidated revenue from operations for the fiscal period ended March 31, 2026, surged by 51.85% year-on-year to reach ₹1,627.94 crore, while net profit after tax grew to ₹143.20 crore, driven by high capacity utilization across its industrial segments.

Official Sources Section

The engineering parameters, project allocations, and structural schedules cited throughout this brief are extracted directly from corporate contract notifications forwarded by the firm's compliance cell to BSE Limited. Operational guidelines conform to statutory infrastructure metrics managed by the Odisha Power Transmission Corporation Limited (OPTCL) and public policy milestones archived by the Central Ministry of Power.

Quote Section

"According to officials familiar with the regulatory filings submitted to domestic bourses, the new contract will be executed over a standard 18-to-24-month horizon, further cementing the company's transition from a regional player into a nationally recognized grid infrastructure partner."

Why It Matters

The allocation of multi-billion-rupee grid modernization projects carries immediate practical significance for general consumers, corporate entities, and industrial hubs. For local citizens, replacing exposed overhead wiring with advanced underground cabling significantly reduces erratic voltage drops, prevents hazardous short-circuits during heavy storms, and cuts down prolonged blackouts. On a macro scale, a fortified transmission grid lowers the technical losses suffered by state distribution companies, ensuring local manufacturing facilities have steady, uninterrupted power lines to sustain higher economic output.

Key Facts at a Glance

• Contract Win: Rajesh Power Services won a turnkey grid project worth ₹2.12 billion from Odisha Power Transmission Corporation.

• Technical Scope: The comprehensive project involves the deployment of extra-high voltage transmission lines and automated substations.

• Strategic Growth: The deal marks the company's first major sovereign grid breakthrough in eastern India, diversifying beyond its traditional Gujarat core.

• Financial Position: The contract expands a massive ₹3,326 crore unexecuted backlog, supported by a 51.85% surge in annual revenue.

Frequently Asked Questions

What does an extra-high voltage underground cabling project achieve?

Extra-high voltage (EHV) underground cable systems place bulk power cables inside secure, insulated subterranean networks. This specialized infrastructure eliminates the environmental vulnerabilities of traditional overhead wires, preventing power outages caused by falling trees, severe storms, or structural cable snapping.

Is Rajesh Power Services involved in any green energy projects?

Yes. Beyond its core power transmission and distribution activities, the company maintains active operations in solar power generation and is expanding into localized engineering modules for hydrogen electrolyzers and battery energy storage systems (BESS).

Where are the corporate shares of the company listed for trading?

Following its successful public launch in late 2024, the equity shares of the utility enterprise are actively listed and traded on the BSE SME Platform under the specialized security code 544291.

Source:

• BSE Limited

• Odisha Power Transmission Corporation Limited (OPTCL)

• Trendlyne Market Intelligence Services