In a significant development for India's power sector, engineering firm Sugs Lloyd Limited has clinched a substantial new contract from a key state utility. The company announced through a stock exchange filing on Wednesday that it has secured an order worth ₹43.37 crore from the Punjab State Power Corporation Ltd. (PSPCL).
Project Details and Scope of Work
The precise value of the contract is ₹43,37,82,924. It has been awarded for executing Loss Reduction Works on a turnkey basis. This project falls under the ambit of the Central Government's flagship Revamped Distribution Sector Scheme (RDSS) in the state of Punjab.
The core objective is to enhance Punjab's electricity distribution infrastructure by implementing critical initiatives aimed at reducing technical and commercial losses. The comprehensive scope of the project includes:
- Upgrading and strengthening the existing Low Tension (LT) and High Tension (HT) distribution networks.
- Supply, Installation, Testing, and Commissioning (SITC) of new equipment and related materials.
- Construction, augmentation, and reconfiguration of various network components to achieve overall system improvement.
Sugs Lloyd has committed to completing this extensive project within 24 months from the date of the Notification of Award (NOA). The company has assured that it will strictly adhere to the technical and quality standards specified by PSPCL.
Management Views and Strategic Importance
Commenting on this achievement, Satykam Basu, CEO of Sugs Lloyd Limited, stated that the contract is a meaningful addition to the company's ongoing project portfolio. He emphasized that this order indicates continued engagement with key utility clients.
"The project aligns with our consistent focus on strengthening our presence in the Power Transmission & Distribution (T&D) segment," Basu said. "Our efforts remain directed toward maintaining quality execution, supporting client requirements, and focusing on creating value for our stakeholders through disciplined and consistent performance."
Boosting Portfolio and Sectoral Focus
This order is expected to provide a substantial boost to Sugs Lloyd's order book and reinforces its positioning as a solutions provider in the power EPC domain. Successfully executing projects under the central government's RDSS scheme is crucial for states like Punjab to modernize their power distribution infrastructure, improve financial health of discoms, and ensure reliable electricity supply to consumers.
The win underscores the company's active participation in national schemes aimed at power sector reforms and infrastructure development. It also highlights the ongoing investments in upgrading India's power distribution networks to reduce losses and improve efficiency.
