Recently, HPL Electric & Power Ltd., has bagged two orders worth over Rs. 372 crores for its switchgear, wires and other related accessories for housing projects in the state of Andhra Pradesh. This is a big step by the company to increase its presence in the low-cost affordable housing segment. The current total order book of the company stands at Rs. 700 crores.
Commenting on winning the orders Gautam Seth, Joint Managing Director, HPL Electric & Power, said, “This is a big win for us and enhances our position as one of the leading electrical equipment manufacturers in the country. We have a diversified portfolio of electrical equipment to cater to various needs of the market. Our manufacturing facilities are state-of-the-art equipped to undertake larger production to meet the present and emerging needs of the country. We also have a strong R&D base with a focus on developing technological advancement in electrical equipment solution for various categories and requirements.”
The Government of India and the various state governments are working towards creating low-cost housing solutions to enhance the various standards of living for the citizens especially the economically weaker segment. This push will give a big boost to the electrical equipment industry in long term. With the rise in demand for electrical equipment to be made available to the housing sector, there is a huge market in the country to be tapped.
