SPML Infra

Name

SPML Infra

Legal name

SPML Infra Limited

Website

https://spml.co.in

Company type

Public

Founded year

1981

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

SPML Infra Limited is a publicly listed Indian EPC contractor (BSE: 500402, NSE: SPMLINFRA) executing water supply, power transmission, and grid-scale battery energy storage projects for central, state, and municipal government clients across India.

Ownership category

akta.pro rank

Product category

Infrastructure EPC (Water, Power, and Energy Storage)

NAICS

Water and Sewer Line and Related Structures Construction (237110), Power and Communication Line and Related Structures Construction (237130), Utility System Construction (2371)

SIC

Water, Sewer, Pipeline, Comm & Power Line Construction (1623), Heavy Construction Other Than Bldg Const - Contractors (1600)

akta.pro primary industry

Construction Management & Delivery (EPCM/CMAR/Design-Build Oversight) (EUANALAE)

akta.pro secondary industries

Construction Management & General Contracting (EPCM, Scheduling, QA/QC, HSE) (EUAMAFAJ), Civil & Site Works EPC (Earthworks, Roads, Drainage, Foundations) (EUAEADAA), Design & Engineering for Renewal/Expansion (Pipelines, Pump Stations, Treatment Plants) (EUANALAD)

Keywords

• Water infrastructure EPC
• Power transmission substations
• Battery energy storage systems
• Wastewater treatment construction
• Engineering procurement construction

Headquarters

HQ city

Kolkata

HQ country

India

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Supply Chain, Operations, Personnel, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. EPC Project Revenue: SPML Infra operates as an EPC (Engineering, Procurement and Construction) contractor, generating revenue from the design, engineering, procurement, construction, installation, testing, and commissioning of water, power, and energy storage infrastructure projects. Revenue is project-based and recognized over the construction period of each contract, with some projects followed by 15-year Operations & Maintenance (O&M) service contracts.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

SPML Infra designs, engineers, procures, constructs, and commissions large-scale infrastructure projects across water, power, and energy storage on an EPC basis for government clients in India. Water projects include drinking water supply pipelines, treatment plants, and sewage/effluent treatment; power projects cover high-voltage grid substations and transmission infrastructure; and BESS projects deliver grid-scale battery energy storage integrated with renewable and thermal power assets. Most major contracts are followed by long-term Operations & Maintenance service agreements.

Product overview

SPML Infra operates as an infrastructure development company offering a portfolio of three core product lines: Water Infrastructure, Power Infrastructure, and Battery Energy Storage Systems (BESS). The company provides end-to-end EPC (Engineering, Procurement and Construction) services across these segments, executing projects from design through construction to operations and maintenance. Water Infrastructure includes water supply pipelines, treatment plants, and sewage systems; Power Infrastructure covers transmission substations and power delivery systems; BESS represents the company's newest strategic focus area for grid-scale energy storage supporting renewable integration.

Differentiator

Problem solved

Functional benefit

Products and services

• Water Infrastructure (EPC) End-to-end EPC services for water supply systems, pipeline networks, water treatment plants, and sewage/effluent treatment systems, covering over 10,000 kilometers of drinking water, wastewater, and bulk water irrigation pipelines including large-diameter deployments up to 4000 mm across varied Indian terrain; targets government water authorities and utilities under Jal Jeevan Mission and AMRUT 2.0.
• Power Infrastructure (EPC) Integrated power infrastructure EPC services providing reliable, efficient, and sustainable electricity transmission infrastructure including high-voltage substations and associated power transmission systems; targets power generation, transmission, and distribution utilities.
• Battery Energy Storage Systems (BESS) — EPC Grid-scale battery energy storage EPC services that keep power grids stable, facilitate renewable energy integration, and ensure reliable electricity supply; SPML Infra offers utility-scale BESS projects with operations and maintenance services, leveraging its exclusive technology partnership with US-based Energy Vault; supports India's 500 GW green energy and 50 GW energy storage targets.
• Wastewater Treatment Systems (EPC) Advanced sewage and effluent treatment systems designed to protect public health and preserve the environment, including zero liquid discharge (ZLD) technology, reverse osmosis, nanofiltration, advanced oxidation processes (UV, ozone), and desalination; targets municipal and urban sanitation authorities.
• Operations & Maintenance (O&M) Services Long-term O&M services bundled with major EPC contracts (e.g., 15-year O&M on NTPC BESS project) to ensure long-term infrastructure performance and recurring client relationships; covers water, power, and BESS assets delivered by SPML Infra.

Quantifiable outcome

• Delivered clean drinking water to over 50 million people across India through completed projects.
• +4 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Energy VaultcoreTechnology or Integration · 6 May 2026SPML Infra entered an exclusive agreement with US-based Energy Vault, a global leader in sustainable energy storage solutions, to bring cutting-edge battery energy storage system technology to India. This partnership enables SPML Infra to deliver grid-scale BESS projects (such as the 250 MW/1,000 MWh NTPC Barauni project) and provides technology support for system optimization and grid reliability, marking SPML Infra's strategic entry into India's growing energy storage sector.
• NTPC LimitedflagshipStrategic or Co-development Partner · 6 May 2026SPML Infra secured a ₹1,128 crore contract from NTPC Limited — one of the largest single BESS orders awarded in India — to develop a 250 MW/1,000 MWh Battery Energy Storage System at NTPC's Barauni Thermal Power Station in Bihar. The project involves complete design, engineering, supply, construction, installation, testing, and commissioning over 18 months, followed by 15 years of O&M. This marks SPML Infra's first large-scale grid BESS project and entry into the utility-scale energy storage segment.
• JWIL Infra and Vishnusurya Projects & InfracoreStrategic or Co-development Partner · 23 February 2026SPML Infra, as part of a consortium with JWIL Infra and Vishnusurya Projects & Infra, was awarded a ₹344.64 crore contract by the Chennai Metropolitan Water Supply and Sewerage Board for implementing continuous water supply systems at Pallipatu and Thiruvanmiyur water distribution stations under the Hybrid Annuity Model.
• Shree Hari Infraprojects Private LtdcoreStrategic or Co-development Partner · 7 January 2026SPML Infra formed a joint venture with Shree Hari Infraprojects Private Ltd to execute a ₹207 crore water infrastructure project from the Public Health Engineering Department in Jhalawar, Rajasthan under the Jal Jeevan Mission. The project involves construction of water treatment plants and pipelines to serve over 1.03 million people.
• Rajasthan Rajya Vidyut Prasaran Nigam Limited (RRVPNL)coreStrategic or Co-development Partner · 8 December 2025SPML Infra secured a ₹165.41 crore contract from RRVPNL for constructing a 400 kV grid substation and transmission infrastructure at Dahra in Kota, Rajasthan. The project includes supply, erection, testing, and commissioning of substation equipment with a 500 MVA autotransformer bay, shunt reactor bay, feeder bays, civil works, automation and communication systems over 18-24 months.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• VA Tech Wabag: India-listed pure-play water EPC company focused on municipal water and wastewater treatment plants globally. Most directly comparable to SPML's water infrastructure segment in terms of customer base (government utilities), technology (treatment plants) and project execution model.
• KEC International: India-based EPC company with significant exposure to power transmission (substations, towers) and cables. Highly comparable to SPML's power infrastructure business (e.g., RRVPNL 400 kV grid substation) in terms of customer profile (state electricity boards) and project type.
• Kalpataru Projects International: Diversified Indian EPC group operating across power transmission, water, oil & gas, and buildings. Comparable business mix to SPML, particularly in power T&D and water pipeline/treatment execution, with similar reliance on government and utility clients.
• Tata Projects: Large Indian EPC company covering power transmission, water, and emerging clean energy infrastructure. Competes with SPML on government tenders for substations, water supply systems, and increasingly BESS projects, but at materially larger scale.
• NCC Limited: Indian infrastructure construction company with significant water supply, irrigation, and urban infrastructure exposure. Comparable to SPML in tender-driven water EPC business, particularly under Jal Jeevan Mission and AMRUT schemes.
• HG Infra Engineering: Indian EPC contractor executing highways, water supply, and irrigation projects under government schemes. Comparable mid-cap infrastructure peer to SPML with similar dependence on central/state government contracts and HAM/EPC models.
• Ion Exchange (India): India-based water and environment management company providing treatment plants, desalination, and zero liquid discharge systems. Comparable to SPML's advanced water treatment and ZLD offerings, with strong overlap in industrial and municipal water customers.

Broad incumbents

• Larsen & Toubro (L&T): India's largest EPC conglomerate with dominant positions in power T&D, water, hydrocarbons, and increasingly BESS. Competes head-to-head with SPML on government tenders but operates at vastly larger scale and broader portfolio depth.

Emerging players

• Engineers India Limited: Government-owned engineering consultancy and EPC contractor with strong water and infrastructure credentials. Partially overlaps SPML in design engineering and EPC project execution for public sector clients.
• Thermax Limited: Indian energy and environment solutions provider with water and wastewater treatment business. Partial overlap with SPML's wastewater treatment and ZLD systems, though Thermax skews more toward industrial clients than municipal utilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SPMLINFRA
• YouTubeyoutube.com/channel/UCcqXpZX_wtE4CCc4jQLY9fQ
• Facebookfacebook.com/profile.php?id=100063955001638&name=xhp_nt__fb__action__open_user
• LinkedInlinkedin.com/company/spml-infra-limited
• Instagraminstagram.com/spmlinfra

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SPML Infra