Genus Power Infrastructures subsidiary wins Rs 3,115cr smart meters contracts

Genus Power Infrastructures Limited’s wholly-owned subsidiary has achieved significant success by securing two letters of awards (LOA) valued at Rs. 3,115.01 crore (net of taxes). These LOAs pertain to the appointment of Advanced Metering Infrastructure Service Providers (AMISPs), including the design, supply, installation, and commissioning of 34.79 Lakhs Smart Prepaid Meters, system meters, and corresponding energy accounting on a Design, Build, Finance, Own, Operate, and Transfer (DBFOOT) basis.

This achievement reflects the growing demand for smart meters in India, which is being driven by various government initiatives aimed at enhancing the efficiency of the power sector. One such initiative is the ‘Reforms-Based, Result-Linked Power Distribution Sector Scheme,’ which has prompted many State Electricity Boards (SEBs) to initiate bidding processes for smart meters.

Jitendra Kumar Agarwal, Joint Managing Director of Genus Power Infrastructures Ltd., expressed his satisfaction with this accomplishment and emphasized the trust that customers place in the company’s capabilities and commitment to delivering high-quality products and services. The company’s strong market standing as a leading provider of intelligent metering solutions in India is reinforced by these new orders.

Furthermore, the government’s initiatives, such as the Revamped Distribution Sector Scheme (RDSS), are driving the demand for smart meters. RDSS aims to install 250 million smart meters in households across the country, further highlighting the growth potential in this sector.

Genus Power Infrastructures Limited’s total order book now exceeds Rs. 14,000 crore (net of taxes), providing visibility into robust future revenue growth. The company has a proven track record of delivering metering projects on time and within budget, supported by a vast network of partners and suppliers, enabling the provision of end-to-end solutions to its customers. The company expressed its gratitude to its customers for their trust and support and looks forward to collaborating with them to successfully execute these projects.