SEPC Secures INR 313.96 Crore Smart Prepaid Metering Project in Punjab Under RDSS

SEPC, an Engineering, Procurement and Construction (EPC) company with a presence across Water and Municipal Services, Roads, Industrial Infrastructure and Mining, has received a Letter of Intent (LOI) from Telecommunications Consultants India (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). 

The project will be executed on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis in consortium with Adya Smart Metering, with a total project value of INR 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 (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 postoperational Go-Live phase. 

Commenting on the order win, Venkataramani Jaiganesh, Managing Director, SEPC, 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.” 

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. 

In Q3 FY26, SEPC reported strong operating momentum, with consolidated revenue of INR 796.89 crore, EBITDA of INR 83.60 crore and net profit of INR 39.81 crore for the nine months ended December 2025— surpassing the Company’s full-year FY25 revenue of INR 597.7 crore, EBITDA of INR 98.9 crore and net profit of INR 24.8 crore.