Swastika Infra Limited 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 and system strengthening works in the Bhandup Zone of Maharashtra.
The order is the largest single project secured by Swastika Infra to date and is equivalent to around 1.2 times the company’s FY26 revenue of ₹504 crore. The contract is expected to provide significant execution visibility and strengthen the company’s order pipeline following its recently concluded IPO, through which it raised approximately ₹130 crore.
The project involves development of new substations, installation of high-tension and low-tension lines, distribution transformers, augmentation of existing power infrastructure and underground cabling. The scope also includes renovation works, GIS mapping, asset tagging and other allied activities.
Following the latest order, Swastika Infra’s unexecuted order book has increased to approximately ₹1,400 crore, compared with ₹687 crore in March 2026. The company said this represents a near doubling of its order book within seven months and reflects the rapid expansion of its business.
Swastika Infra independently participated in the tender and secured the award based on its financial and technical qualifications developed through more than 15 years of project execution experience. The company said the order strengthens its credentials to pursue larger and more complex power infrastructure projects.
The project also marks Swastika Infra’s entry into Maharashtra, expanding its geographical presence to nine states. Maharashtra is among India’s major electricity-consuming states and continues to attract investments in power transmission and distribution infrastructure. The company expects its presence in the state to create opportunities for further participation in the growing power T&D market.
A key feature of the project is its funding through the Asian Development Bank (ADB). Swastika Infra said the project aligns with its strategy of focusing on infrastructure projects supported by multilateral development agencies.
The company expects the latest contract to strengthen its position as a multi-state power infrastructure EPC player while supporting sustained revenue growth and geographical expansion.
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