Rajesh Power Services Ltd (RPSL) gained 1.12 per cent, closing at Rs 1,525, after securing a domestic order worth Rs 598 million from Gift Power Company. The contract involves the development of distribution and backup power systems across the SEZ (Special Economic Zone) and DTA (Domestic Tariff Area) of GIFT City, located in Gandhinagar, Gujarat.
The project, to be executed over 18 months, is segmented into three parts. Part A involves building grid power infrastructure in both SEZ and DTA zones. Part B focuses on backup power systems exclusively for the SEZ, while Part C addresses the expansion of substation feeders in the DTA.
This initiative is expected to enhance power reliability and operational readiness for GIFT City's rapidly growing infrastructure needs. RPSL confirmed the contract is purely domestic and clarified that neither the promoter group nor any group companies have any interest in Gift Power Company. As such, the agreement does not fall under related party transactions.
RPSL provides consultancy and engineering services to state transmission and distribution firms, private utilities, and industrial clients.
For FY25, the company reported a 285.5 per cent increase in net profit, reaching Rs 260.2 million, while net sales rose 37.5 per cent to Rs 2.85 billion, compared to the previous financial year.
This latest contract reinforces RPSL鈥檚 strategic focus on high-impact utility infrastructure and expands its footprint in one of India's most ambitious urban developments.
