Rajesh Power Services Limited has secured a turnkey order worth ₹1,628.74 crore, inclusive of taxes, from Dakshin Gujarat Vij Company Limited (DGVCL) to convert existing overhead electricity distribution networks into underground cable systems. According to the company's exchange statement, the project will be executed over 24 months and will take the company's aggregate order book to approximately ₹5,400 crore. The contract was announced on November 5, 2026, marking a significant addition to the company's project portfolio.
Under the 24-month turnkey project, Rajesh Power will convert existing 11/22kV HT & LT overhead electricity distribution networks into modern underground cable systems with SCADA-compatible equipment across multiple locations under DGVCL's SI Scheme. The project involves the installation of equipment compatible with Supervisory Control and Data Acquisition (SCADA) systems, which supports remote monitoring and control of electricity distribution networks. This latest contract follows a previous order worth ₹471.92 crore from Madhya Gujarat Vij Company Limited (MGVCL).
The order announcement follows the company's strong financial performance in the first half of FY27. According to the company's financial results, Rajesh Power reported a 35% year-on-year increase in consolidated profit after tax (PAT) to ₹79.22 crore, compared with ₹58.8 crore in Q2 FY26. Total income grew 46% to ₹931.8 crore during April-September FY27, with the company attributing revenue growth to the execution of projects across GIS/AIS substations and transmission lines.
Following the order announcement, Rajesh Power's shares came under buying pressure, rising over 3.6% in a single trading session to touch ₹825. The company's market capitalisation stood at approximately ₹1,470 crore. Rajesh Power Services operates in the power transmission and distribution sector as an engineering, procurement and construction (EPC) company with presence across Gujarat, Rajasthan, Uttarakhand, Maharashtra, Madhya Pradesh and Odisha.
