SEPC EPC Limited (NSE: SEPC | BSE: 532945), one of India’s established Engineering, Procurement and Construction (EPC) players, has received a Letter of Intent (LOI) for a major smart metering project in Punjab. The order has been awarded by Telecommunications Consultants India Limited (TCIL), a Government of India enterprise, under the Revamped Distribution Sector Scheme (RDSS).
The project involves the implementation of a Smart Prepaid Metering system in Punjab’s Central Zone and will be executed on a Design, Build, Finance, Own, Operate and Transfer (DBFOOT) basis. SEPC will carry out the project in consortium with Adya Smart Metering Private Limited. The total project value stands at ₹313.96 crore, marking another meaningful addition to SEPC’s order book.
Under the scope of work, SEPC will be responsible for the end-to-end execution of advanced metering infrastructure, including design, deployment, system integration, commissioning, and long-term operation and maintenance. The project will be implemented for Punjab State Power Corporation Limited (PSPCL) in line with the tender conditions and RDSS guidelines. Payments will be made on a back-to-back basis and will be linked to clearly defined monthly, quarterly, and annual milestones following the Go-Live phase.
From a strategic perspective, the LOI strengthens SEPC’s momentum in the power distribution and smart metering space, a segment that continues to attract strong policy support. The DBFOOT model is expected to enhance long-term revenue visibility through annuity-style cash flows, while also improving the company’s exposure to technology-driven infrastructure projects.