Divya Agarwal
ADB-funded project in Bhandup Zone of Mumbai is ~1.2x FY26 revenue, marks entry into Maharashtra and lifts unexecuted order book to ~ ₹1,400 crores
Jaipur (Rajasthan) [India], October 10: Swastika Infra Limited (BSE: 544949 | NSE: SWASTIKAIN) (“Swastika Infra” or the “Company”), one of the leading EPC player in the Power Transmission & Distribution (T&D) and Renewable sector, has secured a Letter of Award (LOA) worth approximately ₹615.76 crore from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for the Development of Distribution Infrastructure & System Strengthening works at Bhandup Zone, Maharashtra.
This is the largest single order in Swastika Infra’s history – a landmark win equivalent to approximately 1.2 times the Company’s FY26 revenue of ₹504 crores, providing substantial execution visibility by materially strengthening its order pipeline post equity fund raise of ~ Rs. 130 crores in its recently concluded IPO. Following this win, the Company’s unexecuted order book stands at ~ ₹1,400 crores with presence across 9 states, creating a stronger platform for sustained revenue growth and geographical expansion.
Scope of Project
The scope covers the development of new substations, HT/LT lines and distribution transformers, augmentation of existing infrastructure, underground cabling, renovation works, GIS mapping, asset tagging and other allied works.
A Strategic Inflection Point
Swastika independently participated in and was awarded this tender on the basis of its own financial and technical qualifications, built over 15 years of execution and successful work completion.
As the largest single order in the Company’s history, this ₹615.76 crore win significantly strengthens Swastika Infra’s credentials for larger and more complex projects, reinforcing its ambition to move decisively up the project value curve.
Importantly, the Company has doubled its unexecuted order book from ₹687 crores in March to ~ ₹1,400 crores in October 2026, underscoring the rapid scale-up of its business.
Unlocking a Larger Opportunity Pool
This order marks further expansion of Swastika Infra’s geographical footprint and strengthening its position as a multistate power infrastructure EPC player with operations across 9 states.
Maharashtra is among India’s leading power-consuming states and, consequently, attracts high investment in the Power T&D sector. Entry into the state is therefore of strategic significance for the Company, both for its long-term growth and for building its credentials in a large, investment-intensive Power T&D ecosystem.
ADB Backing: A Stand-Out Feature
The project is funded by the Asian Development Bank (ADB) and is aligned with the Company’s core philosophy of focusing on projects funded by multilateral development agencies.
About Swastika Infra Limited
Headquartered in Jaipur, Rajasthan, Swastika Infra Limited is a Power T&D EPC company providing end-to-end turnkey solutions across substations, underground cabling, transmission and distribution lines, electrification and allied infrastructure. With a presence across 9 states, the Company undertakes projects across the complete execution lifecycle, with a significant focus on projects funded by multilateral institutions
Disclaimer
Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. The Company will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.
