Rajesh Power L1 for Ajmer substation; RRVPN project win awaits confirmation

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AuthorAkshat Lakshkar|Published at:
Rajesh Power L1 for Ajmer substation; RRVPN project win awaits confirmation
Overview

Rajesh Power Services Limited has emerged as the Lowest Bidder (L1) for a significant 132/33 KV, 2x50 MVA GIS Substation project in Ajmer, awarded by Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPN). The project, encompassing construction and associated transmission lines, is slated for an 18-month execution. While this L1 status signals potential new business, the company awaits final confirmation from RRVPN.

Rajesh Power Services emerges L1 bidder for Ajmer substation project

Rajesh Power Services Limited has been confirmed as the Lowest Bidder (L1) for constructing a 132/33 KV, 2x50 MVA GIS Substation in Ajmer.
The project includes associated transmission lines, survey, supply, erection, testing, and commissioning, with execution planned within 18 months.

Reader Takeaway: L1 status signals strong order pipeline; pending RRVPN confirmation poses execution uncertainty.

What just happened (today’s filing)

Rajesh Power Services Limited (RPSL) announced on February 26, 2026, that it has been identified as the Lowest Bidder (L1) for a significant infrastructure project.
The project involves the construction of a 132/33 KV, 2x50 MVA Gas Insulated Substation (GIS) in Ajmer.

Awarded by Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPN), the scope encompasses associated transmission lines, survey, supply, erection, testing, and commissioning.
The company expects to execute the project within 18 months from its commencement.

However, the declaration as a successful bidder is contingent upon final confirmation from RRVPN.

Why this matters

This L1 status indicates a potential major new order for RPSL, bolstering its order book.
It reinforces the company's position in the power transmission and distribution (T&D) infrastructure segment, where it has been actively seeking new projects.

The successful execution of such projects can lead to significant revenue generation and enhance operational expertise.

The backstory (grounded)

Rajesh Power Services Limited, established in 1971, is a seasoned player in the EPC sector for power T&D infrastructure.
The company has extensive experience in executing turnkey projects for EHV cables, transmission lines, and substations up to 220 KV, including Gas Insulated Substations (GIS).

In April 2025, RPSL secured orders worth Rs 11.16 billion for T&D works, including substations and underground cable projects.
More recently, in February 2026, it formed a joint venture to execute a 132kV railway transmission line project, showcasing its strategic approach to securing work.
The company went public via an IPO on the BSE SME platform in December 2024.

What changes now

For shareholders, this signifies a potential increase in future revenue streams if the bid is confirmed.
It validates RPSL's competitive bidding capabilities in the T&D sector.

Confirmation could lead to increased operational activity and employment.

Risks to watch

The primary risk remains the pending final confirmation of the bid from RRVPN. Until awarded, the project is not secured.

Peer comparison

Peers like Power Grid Corporation of India (PGCIL), KEC International, and Tata Power are major integrated players in the T&D sector. PGCIL operates one of India's largest transmission networks, while KEC International is a global EPC major. Tata Power is involved across the entire power value chain, demonstrating the competitive landscape RPSL operates within.

Context metrics (time-bound)

  • Project Capacity: 132/33 KV, 2x50 MVA GIS Substation.
  • Project Execution Timeline: 18 months from commencement.

What to track next

  • Receipt of the official Letter of Intent (LOI) or Letter of Award (LOA) from RRVPN.
  • Final confirmation of the bid and project award from RRVPN.
  • Commencement date and further project execution updates.
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