The current total order book of the company stands over at Rs 700 crore. HPL has been a supplier to government infrastructure, as well as the private housing sector
HPL Electric & Power (HPL) has won two orders worth over Rs 372 crore from housing projects in Andhra Pradesh. These orders include HPL supplying switchgear, wires and other related accessories to these housing projects.
“This is a big win for us and enhances our position as one of the leading electrical equipment manufacturer in the country. We have a diversified portfolio of electrical equipments to cater to various needs of the market,” said Gautam Seth, joint managing director, HPL Electric & Power.
The current total order book of the company stands over at Rs 700 crore. HPL has been a supplier to government infrastructure, as well as the private housing sector.
The company had announced a new R&D center in October 2020, and has noted that around 200 engineers will be working at the center, conducting advanced in developing solutions for smar meter solutions. HPL is aiming to bring in advanced IoT and AI-enabled smart solutions and products for the Indian and international markets.
In the Union Budget of 2020, The Government of India had urged all the states to replace the conventional electricity meters into prepaid smart meters and plans to install 25 million smart meters in the country within next three years. The Government has allocated Rs 22000 Cr in the Union Budget for the development of infrastructure enhancing electric grid across the country, implementation of smart meters, enlargement of green mode of electric generation, etc.
“The Company is bullish about the opportunities in the smart metering segment. We are expecting large-scale requirement for smart metering solutions in the coming years and we are fully capable and ready to meet the requirements of the industry with our best-in-class metering solutions. Our manufacturing facilities are adequately equipped to undertake larger production to meet the targets of the Government to install 25 million smart meters in the country within the next three years,” Gautam Seth, Joint Managing Director, HPL Electric & Power Ltd, had said.