Genus Power Infrastructures wins order worth Rs 2,209.84 cr
Jaipur : Genus Power Infrastructures Limited’s wholly owned subsidiary has received a letter of award (LOA) of Rs. 2,209.84 crore (net of tax) for appointment of Advanced Metering Infrastructure Service Provider (AMISP) including design of AMI system with supply, installation and commissioning of 21.77 Lakhs Smart Prepaid Meters, on DBFOOT (Design, Build, Finance, Own, Operate, Transfer) basis under Revamped Distribution Sector Scheme (RDSS). Post this order inflow, our total order book stands at in excess of Rs. 8,200 crore (net of tax). Many State Electricity Boards (SEBs) have initiated the process of inviting bids for the deployment of smart meters, which serves as a testament to the positive impact of the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme’. Based on our analysis, the company anticipates a robust surge in order volumes during the forthcoming quarters of fiscal year 2024. Mr. Jitendra Kumar Agarwal, Joint Managing Director, Genus Power Infrastructures Ltd. said, “We are pleased to inform that our company has secured a substantial order valued at Rs. 2,210 crore (net of tax). This is the second major order that we have won, after securing an order of Rs. 2,208 crore (net of tax) in last month. This achievement represents a substantial milestone for our organisation, and we possess a strong conviction that it will serve as a catalyst for exponential business expansion within the Indian market. Smart meters are an important part of the transformation of the power distribution domain, and we are proud to be playing a leading role in this transformation. These orders will enable us to deploy our smart metering solutions to millions of homes and businesses in India, and we look forward to working with our customers to help them reduce their energy consumption and improve their energy efficiency.