Rajesh Power Services has secured a significant transmission project worth ₹211.68 crore from Odisha Power Transmission Corporation (OPTCL), marking the company's maiden entry into Odisha state. According to reports from Business Standard, this order represents one of the largest transmission contracts secured by the company and represents a significant milestone in its growth journey. The company's stock advanced 2.72% to ₹872 following the contract announcement. The order encompasses the design, engineering, supply, installation, testing and commissioning of a 220 kV single-circuit underground cable transmission line from 400/220/132/33 kV GSS Mendhasal to 220/132/33 kV GIS GSS Chandaka-B in Odisha.
The comprehensive project includes one 220 kV AIS bay extension at GSS Mendhasal and one 220 kV GIS bay extension at Chandaka-B. As reported by Business Standard, the contract is awarded on an EPC (Engineering, Procurement and Construction) basis and is scheduled for execution within 24 months. This project marks the company's expansion into the eastern region of India and strengthens its geographical footprint beyond its traditional operational areas, positioning the company for future growth opportunities in the eastern transmission sector.
According to Business Standard, Rajesh Power Services demonstrated strong financial performance in FY26, with standalone net profit surging 48.2% to ₹143.20 crore. The company's revenue from operations increased by 51.9% to ₹1,627.94 crore compared to FY25. The company provides consultancy services to state transmission and distribution companies, private utilities, and industries, positioning it well for infrastructure projects like the OPTCL contract.
The company has recently secured additional transmission projects, including a ₹40.08 crore contract from Gujarat Energy Transmission Corporation (GETCO) for a 220 kV underground cable at the proposed 220 kV Dholera Substation, scheduled for completion within six months. Additionally, Rajesh Power Services received a ₹45.16 crore contract from East Central Railway for design, supply, erection, testing and commissioning of a 132 kV transmission line at GSS Nabinagar substation, to be executed in joint venture with a private company over 18 months.
In a significant strategic development, Rajesh Power Services has entered the utility-scale battery energy storage segment through a Battery Energy Storage Purchase Agreement (BESPA) with Gujarat Urja Vikas Nigam (GUVNL) for a 65 MW / 130 MWh standalone Battery Energy Storage System (BESS) at Virpore, Gujarat. The project operates under a 12-year agreement at a contracted tariff of ₹1.89 lakh per MW per month and is expected to be commissioned within 18 months, marking the company's formal entry into this growing segment.
