Rajesh Power Services sizzles on Rs 472 crore MGVCL orders

Rajesh Power Services rose 5.94% to Rs 776.40 after the company secured turnkey contracts worth Rs 471.92 crore, inclusive of taxes, from Madhya Gujarat Vij Company Limited (MGVCL).

The contracts involve converting existing 11 kV high-tension overhead lines into medium-voltage covered conductor (MVCC) lines and underground cable networks at various locations across Gujarat under MGVCL's SI Scheme Robust-III.

The projects have an execution timeline of 18 months. According to the company, the new orders will take its aggregate order book close to Rs 4,000 crore.

The contracts will expand Rajesh Power Services' presence in the power transmission and distribution segment, particularly in electricity distribution infrastructure modernisation. The conversion of overhead lines and installation of underground cables are part of efforts to strengthen distribution networks.

Rajesh Power Services is an engineering, procurement and construction (EPC) company operating in the power transmission and distribution sector. Its activities include turnkey execution of gas-insulated and air-insulated substations, extra-high-voltage power cables, transmission lines, distribution systems, and operation and maintenance services.

On a full-year basis, the company?s consolidated net profit surged 48.19% to Rs 143.20 crore, driven by a 51.85% rise in revenue from operations to Rs 1,627.94 crore in FY26 over FY25.

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