Rajesh Power gains inking MoUs worth Rs 4,754-cr with Gujarat Govt

Rajesh Power Services rallied 3.41% to Rs 1,570 after it has signed multiple memorandums of understanding (MoUs) with the Government of Gujarat on the inaugural day of the Vibrant Gujarat Regional Conference (VGRC) 2025.

The MoUs entail a cumulative investment of Rs 4,754 crore and are focused on the execution of turnkey infrastructure projects across the state. As part of the agreement, Ahmedabad-based RSPL will undertake large-scale conversion of overhead high-tension (HT) lines into underground cable networks in various regions of Gujarat.

The projects are expected to create employment opportunities for over 33,000 people in the coming years, reinforcing the state governments emphasis on inclusive economic growth and skill development.

This collaboration marks a significant step in modernizing Gujarat's power infrastructure while contributing to its long-term development goals.

Kurang Panchal, MD, Rajesh Power, said, We are delighted to be a part of the Vibrant Gujarat Regional Conference 2025 being held at Mehsana in Gujarat, and extend our sincere gratitude to the Government of Gujarat for their continued trust and support. Each of these MoUs signed today marks a significant step toward strengthening the states robust power distribution infrastructure and enhancing reliability for communities across the region.

We remain fully committed to executing every project with dedication and excellence, ensuring timely delivery and efficiency in implementation. Together, these initiatives will lay the foundation for future-ready energy solutions and further reinforce Gujarats position as a leader in power sector transformation.

Rajesh Power Services provides consultancy to state transmission and distribution companies, private utilities, and industries.

On a full-year basis, the companys net profit surged 285.5% to Rs 26.02 crore on a 37.5% jump in net sales to Rs 284.97 crore in FY25 over FY24.

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