HPL Electric bags order worth Rs 178.9 crore for supplying smart meters

HPL Electric & Power on Tuesday said it has won an order worth Rs 178.9 crore for supplying smart meters.

The order has been received from the largest private utility of a state in eastern India, it said in a BSE filing.

This further strengthens HPL Electric & Power's leadership position in smart meter manufacturing sector across the Indian market, it added.

At a time when reports of power shortages are making headlines, smart meters will definitely reduce distribution losses, remove theft and pilferage of power.

"This is a big win for us, fortifying our leadership position in smart meter technology once again," the company's Joint Managing Director Gautam Seth said.

"At a time when country is facing several challenges due to the present scenario, this project comes at a crucial juncture when Indian government has earmarked a sum of Rs 22,500 crore as the central government grant for the installation of 25 crore smart prepaid meters across the country under the Rs 3-lakh-crore scheme for power distribution entities," he added.