Salasar Techno Engineering Limited (STEL) has secured two major contracts worth a total of approximately Rs 695.18 crore from Rail Vikas Nigam Limited (RVNL), New Delhi, the company informed in a regulatory filing under SEBI Listing Regulations.

The contracts pertain to the development of power distribution infrastructure aimed at reducing losses across the Mandi, Bilaspur, Kullu, and Hamirpur operation circles under the central zone of Himachal Pradesh State Electricity Board Limited (HPSEBL). The projects fall under the Revamped Reforms-based and Results-linked Distribution Sector Scheme (RDSS).

The first order, valued at around Rs 524.99 crore (including GST), is for Service Support & Procurement Management of electrical and mechanical items required for the infrastructure upgrade. The second order, worth approximately Rs 170.19 crore (including GST), involves Erection Work for the same distribution development initiative.

RVNL, a domestic government entity, has awarded both contracts, which must be completed within a period of 20 months. The company clarified that neither the promoters nor related parties have any interest in the awarding entity, and the contracts do not fall under related-party transactions.