| Railway Electrification EPC | Design, supply, erection, testing, and commissioning of 25kV overhead electrification and traction substations. | Established track record, strong client relationships, specialized technical expertise, pan-India network. | B2B - Indian Railways zones, RVNL, IRCON, Dedicated Freight Corridor and others. | Design, engineering, and commissioning phases with technical expertise premium. | 104 | 85 | Revenue from EPC contracts, milestone-based payments from Indian Railways and PSU clients. | Project-based fixed contracts and milestone billing. | Government electrification drives, net-zero carbon targets, increasing OHE modernization requirements. | |
| Maintenance and Operations Services | OHE and power supply installations preventive and corrective maintenance services. | Integrated service capability post-electrification, strengthening client partnerships. | B2B - Indian Railways and private industrial sidings customers. | Full-service maintenance contracts with value-added services. | 12 | 10 | Contractual recurring revenue from maintenance agreements with Railway zones and industrial clients. | Recurring contracts, service agreements with periodic billing. | Rising emphasis on asset reliability, lifecycle management, and long-term O&M contracts. | |
| Private Railway Sidings Development | Design and construction of custom railway sidings for coal mines, steel, cement, and industries. | Local expertise in coal belt, trusted by leading industrial clients like Adani and JSW. | B2B - Mining companies, steel plants, cement manufacturers, logistics hubs. | End-to-end turnkey projects with technical customization. | 7 | 5 | Project-based payments from private sector clients, milestone billing. | Fixed contracts, EPC mode with tailored solutions. | Industrial expansion in coal belt, government focus on dedicated freight corridors, private investment. | |
