Master EV Charging Services Agreement executed with Safexpress Private Limited

Executed a Master EV Charging Services Agreement with Safexpress on 9 October 2026 for EV charging stations under the MEGACHARGE brand.

Sat 10 Oct 2026

Agreement Date

9 October 2026

Site Term

10-year term, extendable by 3 years by mutual consent

Commissioning Timeline

60-day commissioning; no minimum number of sites or aggregate contract value committed

What was signed

Mega Nirman & Industries Limited has, on 9 October 2026, executed a Master EV Charging Services Agreement with Safexpress Private Limited, a logistics company. Under it, the Company will install, own, operate and maintain electric vehicle charging stations under its MEGACHARGE brand at sites mutually agreed between the parties from time to time.

How sites get added

• Each location is added through a separate Site Annexure following a feasibility assessment.
• The Master Agreement provides a framework for the parties to consider additional sites, subject to feasibility and mutually executed Site Annexures.
• The minimum guaranteed consumption and the Company's margin for each site will be as specified in the Site Annexure for that site.
• The Master Agreement is a framework arrangement entered into in the ordinary course of business and does not commit either party to a minimum number of sites or any aggregate contract value. Actual revenue will depend on the sites commissioned and the energy dispensed at them.

Commercial terms

• The Company will install, own, operate and maintain EV charging stations at each agreed site at its own cost.
• Charging is supplied on a prepaid basis to transport vendors engaged by Safexpress and to vehicles owned by Safexpress.
• The tariff per unit (KWh) comprises a pass-through energy component and a margin component for the Company.
• Safexpress guarantees a minimum monthly consumption at each site and pays the Company's margin on any shortfall.
• Safexpress and its vendors will use the Company's charging station exclusively at the site premises.
• Safexpress may terminate any site on 90 days' notice.

Timelines

• Each charging station is to be commissioned within 60 days as per the terms of the Master Agreement.
• The term for each site is 10 years from its commissioning date, extendable by 3 years by mutual consent.

The earlier Agra agreement

The parties had earlier executed an EV Charging Service Agreement dated 29 April 2026 for a site at Agra, Uttar Pradesh. The Agra site is intended to be governed by the Master Agreement, and the earlier agreement will stand superseded on execution of the Site Annexure for that site.

What the numbers say

• The update states no aggregate value is committed under the Master Agreement; the money terms to watch are the minimum guaranteed consumption and the margin rate, which sit in each Site Annexure.
• The contract is domestic, and the update states the promoter, promoter group and group companies have no interest in the entity that awarded the contract, and that it does not fall within related party transactions.
• For a reader, the scale of this arrangement builds up site by site, site Annexure by site Annexure, rather than as one lump-sum order.

Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.