Rajesh Power Services Limited, a leading name in power infrastructure solutions, has officially announced the receipt of a major order worth ₹59.79 crore from Gift Power Company Limited for executing Distribution and Backup Power Systems in both the Special Economic Zone (SEZ) and Domestic Tariff Area (DTA) of GIFT City, Gandhinagar. This order has been confirmed via a regulatory filing dated June 18, 2025, with the BSE Limited under Regulation 30 of SEBI’s Listing Obligations and Disclosure Requirements (LODR) Regulations, 2015.

The order marks a significant milestone for Rajesh Power Services, reinforcing its capabilities in providing comprehensive energy solutions across India’s fastest-growing business districts. The assignment is to be completed over a period of 18 months, and has been received in the ordinary course of business.

The official disclosure, attached as Annexure A, outlines the key components of the project:

• Part A: Power Supply Arrangement for GRID power in the SEZ area.

• Part B: Arrangement for Backup Power in the SEZ area.

• Part C: SS Feeder Expansion in the DTA area.

This consolidated work will enhance the resilience and efficiency of the power infrastructure in GIFT City—a globally benchmarked financial and technology services hub emerging in Gujarat.

The client, M/s Gift Power Company Limited, is a domestic entity based in GIFT City. The order has been awarded after a competitive process, reflecting Rajesh Power’s technical strength, domain expertise, and project execution capability in the domain of critical power supply systems.

Rajesh Power Services has clarified that there is no promoter or promoter group interest in the awarding entity, and the transaction does not fall under related party transactions. This ensures complete transparency and regulatory compliance, aligning with investor expectations and corporate governance norms.

Strategic Importance of the Project

The awarded contract comes at a time when GIFT City is rapidly expanding to host multiple multinational banks, fintech players, and institutional investors. A reliable and scalable power infrastructure is fundamental to supporting this urban growth. The SEZ and DTA power systems, including backup facilities, play a crucial role in ensuring uninterrupted services for such high-demand businesses.

Through this project, Rajesh Power will contribute to building an ecosystem that adheres to global energy standards, boosting the city’s appeal for international business. The feeder expansion in the DTA area will also provide redundancy and operational agility, reducing risks of power outages.

Technical Details

The work will involve installation, configuration, and commissioning of:

• GRID connection systems

• Backup power generators

• Switching stations

• Load management systems

• Feeder line upgrades

Each component of the project is expected to be aligned with power efficiency norms, and will incorporate state-of-the-art monitoring technologies to ensure real-time supervision of energy usage and fault rectification.

Order Execution & Financial Impact

The ₹59.79 crore order will be recognized in Rajesh Power’s books over the 18-month execution window, potentially impacting its quarterly revenue growth positively, depending on project milestones. While the company has not disclosed the exact margins, such infrastructure orders typically contribute healthy EBITDA margins due to their turnkey nature and long-term maintenance opportunities.

The stock, listed under Scrip Code: 544291 and ISIN: INEOVN801010, is expected to attract attention from institutional and retail investors following this announcement. This development also aligns with the company’s broader strategy to diversify its order book and strengthen its presence in strategic economic zones.

Governance and Regulatory Assurance

The disclosure by Jyoti Dakshesh Mochi, Company Secretary and Compliance Officer, reiterates the company’s commitment to maintaining transparent and timely communication with the stock exchanges, in line with SEBI’s disclosure obligations under its 2023 circular on material events.

Rajesh Power has a commendable track record in power distribution, electrical contracting, and energy management, with a portfolio spanning multiple Indian states. This GIFT City order is expected to enhance the company’s market visibility and order pipeline significantly.

Conclusion

The ₹59.79 crore contract from Gift Power Company Limited is a testament to Rajesh Power Services Limited’s growing expertise in delivering high-value power infrastructure solutions. As GIFT City evolves into India’s global financial nerve center, the role of companies like Rajesh Power becomes more central in supporting this transformation.

The project reinforces Rajesh Power’s vision of being a reliable, technology-driven, and governance-focused infrastructure partner. With execution expected over the next year and a half, stakeholders and investors will closely watch the progress of this landmark order and its contribution to the company's financial trajectory.

This announcement under Regulation 30 of SEBI (LODR) Regulations, 2015, not only highlights the commercial viability of Rajesh Power’s service offerings but also strengthens confidence in its ability to handle complex, mission-critical energy projects in India’s most ambitious urban zones.

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