Larsen & Toubro (L&T) has won a contract to supply 2.5 million smart meters to Energy Efficiency Services Limited (EESL) after emerging as the lowest bidder for an international tender for procuring 5 million smart meters. L&T quoted a price of Rs 2,722 per single-phase smart meter. In the same tender, Genus Power and KEONICS were the second and third lowest bidders. Reportedly, the price quoted by L&T is 40-50 per cent lower than the prevailing market rate. The smart meters will be installed in Uttar Pradesh and Haryana.