Rajesh Power Services rose one point four five per cent to Rs 867 after securing an order from Paschim Gujarat Vij Company Limited to convert distribution lines to an underground system in Jamnagar. The contract is valued at Rs 362.82 crore, equivalent to Rs 3.6282 billion (bn), and the company indicated it forms part of its ongoing transmission and distribution business. The award prompted investor interest and contributed to a modest uptick in the share price, reflecting market attention on new orders. Analysts and investors noted that visible orders support near-term revenue visibility.

The scope covers the turnkey conversion of the existing 11 kV high-tension and low-tension line network, including consumer service lines, into an underground cable network with a ring main configuration in the Jamnagar City-2 Division of the Jamnagar Circle under PGVCL. The project is scheduled for completion within 24 months and will proceed through planning, civil works, cable laying and system commissioning phases. The company described the contract as being aligned with municipal urban network modernisation and safety objectives.

The company clarified that the contract does not qualify as a related-party transaction and that neither its promoters nor members of the promoter group have any interest in the award. Rajesh Power Services offers consultancy and engineering services to state transmission and distribution companies, private utilities and industrial customers and said such contracts form a core part of its service offering. The firm added that execution discipline and timely completion are priorities for contract delivery.

On a full-year basis consolidated net profit rose 48.19 per cent to Rs 143.20 crore, equivalent to Rs 1.432 bn, driven by a 51.85 per cent increase in revenue from operations to Rs 1,627.94 crore, or Rs 16.2794 bn, in FY26 over FY25. The results underline growth in execution and revenue realisation during the year and point to improved margins and scale. The PGVCL order will be monitored as part of the company's execution pipeline and its contribution to revenue recognition will depend on progress under the contract.