Divya Agarwal
Mumbai (Maharashtra) [India], February 10: SEPC Limited (NSE: SEPC | BSE: 532945), one of India’s leading Engineering, Procurement and Construction (EPC) companies with a diversified presence across Water & Municipal Services, Roads, Industrial Infrastructure, and Mining, has received a Letter of Intent (LOI) from Telecommunications Consultants India Limited (TCIL), a Government of India enterprise, for the implementation of a Smart Prepaid Metering project in Punjab (Central Zone) under the Revamped Distribution Sector Scheme (RDSS).
Project Scope and Structure
The project will be executed on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis in consortium with Adya Smart Metering Private Limited, with a total project value of ₹313.96 crore. It encompasses the design, deployment, integration, commissioning, and long-term operation and maintenance of advanced metering infrastructure for Punjab State Power Corporation Limited (PSPCL), in accordance with the client’s tender and applicable scheme guidelines. Payments will be made on a back-to-back basis, linked to defined monthly, quarterly, and annual milestones during the post-operational Go-Live phase.
Strategic Outlook
The LOI strengthens SEPC’s order momentum and expands its presence in power distribution and metering infrastructure. The BOOT model improves long-term revenue visibility, while sustained public sector investment in power reforms and digital infrastructure supports growth. With a diversified portfolio and rising exposure to annuity-based projects, SEPC remains well positioned to benefit from favourable industry tailwinds.
Commenting on the order win Mr. Venkataramani Jaiganesh, Managing Director of SEPC Limited, said:
“This order reflects the continued confidence of our clients in SEPC’s execution capabilities across complex infrastructure projects. Smart metering is a key pillar of power distribution reforms in India, and this project allows us to further expand our presence in this segment. The DBFOOT structure also aligns well with our strategy of building long-term, annuity-linked revenue streams, while maintaining a disciplined approach to risk and capital deployment.”
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