Rajesh Power has secured a major ₹59.79 crore order for power infrastructure development in Gujarat’s GIFT City. Following the announcement, Rajesh Power stock rose 1.1%, signaling investor confidence in the company’s growing project pipeline.
The contract covers key zones in GIFT City—India’s first operational smart city and international financial services hub. It includes both the Special Economic Zone (SEZ) and the Domestic Tariff Area (DTA).
What the Project Covers
The order is split into three parts:
- Part A: Lays down the grid power infrastructure in both SEZ and DTA zones.
- Part B: Focuses on backup power solutions exclusively for the SEZ area.
- Part C: Expands substation feeders in the DTA zone.
This power project is expected to make GIFT City more energy-reliable and operationally ready as it scales up development and attracts global investments.
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No Conflict of Interest
Rajesh Power confirmed that the promoter, promoter group, or any group companies have no stake in the entity awarding the contract. So, there’s no related party transaction here—meaning no arm’s length pricing issues either.
This kind of transparency adds to Rajesh Power’s credibility, especially at a time when corporate governance is under sharp public focus.
Execution Timeline and Scope
The ₹59.79 crore project is purely domestic and will run for 18 months. It includes full development and setup of grid and backup power systems—one of the largest integrated setups in a single Indian smart city project so far.
Who is Rajesh Power?
Rajesh Power is a known name in power infrastructure consultancy. It advises state transmission companies, private utility providers, and industries on everything from design to implementation. The company’s expanding portfolio signals its rising influence in India’s energy and smart city development space.
This win at GIFT City cements its standing in high-stakes, high-tech projects. With India focusing on smart infrastructure, this is a good signal for Rajesh Power’s future.
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