Order Wins / Contract Awards
Rajesh Power Services Secures ₹75.05 Crore RVPNL Turnkey GIS Substation Order
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- Rajesh Power Services Limited has secured a ₹75.05 crore turnkey contract from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL) for the construction of a 132/33 kV, 2×50 MVA GIS Substation at Pal, Jodhpur, along with the associated transmission line. The project includes survey, supply, erection, civil works, testing and commissioning, and is scheduled to be completed within 18 months.
PRICE-SENSITIVE TRIGGER
Event: Rajesh Power Services received a ₹75.05 crore turnkey GIS substation order from Rajasthan Rajya Vidyut Prasaran Nigam Limited.
Type: Order Wins / Contract Awards
Impact: Positive
Immediate Effect: The order strengthens the company’s power transmission project portfolio and provides execution visibility over the next 18 months.
Metrics:
Key Contract Metrics:
- Order Value: ₹75.05 crore (Including Taxes)
- Awarding Authority: Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL)
- Project Type: Turnkey Contract
- Execution Timeline: 18 Months
- Project: 132/33 kV, 2×50 MVA GIS Substation with associated transmission line
- Order Category: Domestic
Highlight:
- Order Value: ₹75.05 crore turnkey contract from RVPNL.
What Happened ?
Rajesh Power Services Limited informed the stock exchanges that it has received a turnkey contract from Rajasthan Rajya Vidyut Prasaran Nigam Limited for establishing a 132/33 kV, 2×50 MVA GIS Substation at Pal, Jodhpur.
The scope includes survey, supply of equipment and materials, erection including civil works, testing, commissioning and construction of the associated transmission line.
key details
Turnkey Power Infrastructure Project:
- The contract has been awarded by Rajasthan Rajya Vidyut Prasaran Nigam Limited (RVPNL), the state transmission utility of Rajasthan.
- The project covers the 132/33 kV, 2×50 MVA GIS Substation at Pal, Jodhpur, along with the associated transmission line.
- The turnkey scope includes survey, supply of equipment and materials, erection including civil works, testing and commissioning of the complete project.
- The company is required to execute the contract within 18 months from the award date.
- Rajesh Power Services confirmed that the order is from a domestic entity, is not a related-party transaction, and the promoter or promoter group has no interest in the awarding authority.
Note:
- The filing does not disclose the project commencement date, milestone-based payment schedule or expected annual revenue contribution from the contract.
Risk Analysis
Summary:
- The order strengthens the company’s execution pipeline, but timely completion of the turnkey project will be essential for revenue recognition.
Key Risks:
- Revenue recognition depends on successful execution over the 18-month project schedule.
- Large transmission projects may face execution and construction-related challenges.
- The filing does not disclose milestone payments or project-specific financial terms.
- Any delay in execution could postpone revenue recognition and project completion.
Worst Case:
- Project execution delays could defer revenue recognition beyond the planned completion schedule.
Risk Level: Low
Company Commentary
- Rajesh Power Services announced the receipt of a ₹75.05 crore turnkey contract from RVPNL.
- The project includes the construction of a 132/33 kV GIS substation and its associated transmission line.
- The company stated that the order has been received in the normal course of business.
- The contract is a domestic turnkey project with no related-party involvement.
Official Exchange Filing: Rajesh Power Services Limited
