 "Genus Power Infrastructures arm bags order worth Rs 2,209.8 crore")
Genus Power Infrastructures on Tuesday said its subsidiary has bagged a Rs 2,209.84-crore order for supply and installation of 21.77 lakh smart pre-paid electricity meters.
The company has received a letter of award (LOA) of Rs 2,209.84 crore (net of tax) for the appointment of advanced metering infrastructure service provider.
This includes the design of the advanced metering infrastructure, supply, installation and commissioning of 21.77 lakh prepaid smart meters on design, build, finance, own, operate, transfer (DBFOOT) basis under revamped distribution sector scheme (RDSS), a company statement said.
"Post this order inflow, our total order book stands in excess of Rs 8,200 crore (net of tax). Many state electricity boards 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'," it stated.
Based on our analysis, the company anticipates a robust surge in order volumes in the next quarters of the current fiscal, it stated.
This is our second major order, after securing a Rs 2,208 crore (net of tax) order in the last month, Jitendra Kumar Agarwal, joint managing director, Genus Power Infrastructures, said in the statement.
The Genus Power Infrastructures, which started operations in 1995, is among the largest players in the country's electricity metering solutions industry, with a 27 per cent market share.
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