Swastika Infra has secured a Letter of Award worth approximately Rs. 6.16 bn from Maharashtra State Electricity Distribution Company (MSEDCL) for distribution infrastructure development and system-strengthening works in the Bhandup Zone of Maharashtra. The project is funded by the Asian Development Bank (ADB) and marks the company’s entry into the state.

The order is the largest single contract secured by Swastika Infra to date and is equivalent to approximately 1.2 times its FY26 revenue of Rs. 5.04 bn. It follows the company’s recently completed initial public offering, through which it raised approximately Rs. 1.3 bn, and provides greater visibility for project execution and revenue growth.

Following the award, Swastika Infra’s unexecuted order book stands at approximately Rs. 14 bn, compared with Rs. 6.87 bn in March. The company said the order book has expanded alongside its geographical presence, which now covers nine states, strengthening its position as a multi-state engineering, procurement and construction (EPC) player in the power sector.

The project scope includes new substations, high-tension and low-tension lines, distribution transformers, augmentation of existing infrastructure, underground cabling and renovation works. It also covers geographic information system (GIS) mapping, asset tagging and other related activities required for distribution network development.

Swastika Infra independently participated in the tender and qualified on the basis of its financial and technical capabilities, developed through more than 15 years of project execution. The company said the MSEDCL contract would support its pursuit of larger and more complex power transmission and distribution assignments, while establishing credentials in Maharashtra’s investment-intensive electricity infrastructure market.

Headquartered in Jaipur, Rajasthan, Swastika Infra provides turnkey solutions covering substations, underground cabling, transmission and distribution lines, electrification and related infrastructure. It has focused substantially on projects supported by multilateral development agencies and undertakes work across the project execution lifecycle.