Synopsis: SPML Infra Limited has secured a Rs. 165.41 crore contract from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL) for constructing a 400 kV Grid Substation and Transmission Infrastructure at Dahra, Kota, Rajasthan. The project is to be completed within 18 months and adds to the company’s growing power infrastructure portfolio.
In a regulatory disclosure filed SPML Infra Limited announced that it has won a significant infrastructure contract worth Rs. 165.41 crore from Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL), the state-owned power transmission utility of Rajasthan. The contract involves the construction of a 400 kV Grid Substation and allied Transmission Infrastructure at Dahra in the Kota district of Rajasthan, with a project execution timeline of 18 months.
The scope of work under this contract is comprehensive, covering the supply, erection, testing, and commissioning of a 400 kV Grid Sub-Station at Dahra. Key components include one 500 MVA Autotransformer Bay, a 420 kV, 1×125 MVAR Bus-type Shunt Reactor Bay, two 400 kV Feeder Bays, three 400 kV Tie Bays, and all associated civil works, automation systems, and communication infrastructure. Projects of this scale are foundational to Rajasthan’s ambitious energy grid modernisation agenda.
Rajasthan is one of India’s most active states in the renewable energy transition, boasting among the country’s largest installed capacities in solar and wind power. However, the rapid scaling of renewable generation has created a parallel demand for high-capacity evacuation and transmission infrastructure and that is precisely where this substation plays a pivotal role. The 400 kV grid upgrade at Dahra will strengthen the reliability of power evacuation from both conventional and renewable sources, feeding into Rajasthan’s rapidly expanding grid network.
Managing Director Abhinandan Sethi underlined the strategic importance of the win, noting the company’s four decades of technical expertise and its commitment to delivering power infrastructure that is, in his words, “stronger, smarter, and faster than ever before.” The order also complements SPML Infra’s Battery Energy Storage System (BESS) business, positioning the company as a vertically integrated player across the entire power value chain from generation-side storage to high-voltage transmission.
This contract adds meaningfully to SPML Infra’s power vertical order book and reflects the company’s deliberate strategic focus on high-margin, government-funded infrastructure projects. The company operates across three core verticals Water, Power, and Energy Storage and has historically derived a significant portion of its revenues from government and PSU clients, which provides relative revenue predictability and lower counterparty risk.
As of May 22, 2026, SPML Infra Limited holds a total order book of nearly Rs. 4,358 crore, reflecting the company’s ongoing transition toward higher-margin government-backed infrastructure projects under its “SPML 2.0” strategy.
Out of the total order pipeline, around Rs. 2,800 crore comprises newer projects with improved profitability profiles. The company has witnessed strong order inflows during FY26, including a landmark Rs. 1,128 crore Battery Energy Storage System (BESS) contract from NTPC Limited and multiple power infrastructure projects. During the first nine months of FY26 alone, SPML Infra secured fresh orders worth Rs. 4,324 crore, providing strong revenue visibility for the coming years.
The win from RRVPNL is particularly notable given the accelerating pace of investment in India’s power transmission sector. The Government of India’s National Electricity Plan and state-level transmission master plans have earmarked significant capital for grid expansion and upgradation, and companies like SPML Infra are well positioned to capture a disproportionate share of these tendering opportunities, given their established execution track record.
Shares of SPML Infra Limited gained nearly 3% on Thursday to trade at Rs. 205.41 after touching an intraday high of Rs. 209.95, as investors reacted positively to the company’s latest power infrastructure order win. The stock has delivered strong long-term returns, rising over 480% in the last three years.
Company Overview
SPML Infra Limited, headquartered in Kolkata, is a publicly listed infrastructure development company with over four decades of pan-India execution experience. The company has successfully delivered more than 700 projects spanning drinking water systems, wastewater treatment, power transmission and distribution, substations, rural electrification, and smart city solutions.
Ranked 14th among the World’s Top 50 Private Water Companies by Global Water Intelligence (GWI), London, and recognised as one of India’s 10 Best Infrastructure Companies, SPML Infra is an ESG-compliant organisation with a growing focus on high-value power and energy storage projects.
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The post SPML Infra Bags ₹165 Crore Order From Rajasthan’s Power Grid Body to Construct 400 kV Substation at Kota appeared first on Trade Brains.
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