The contract for the IAF would already be frozen based on negotiation deadlines. The Egyptian options won't affect it.
I don't know why you believe the Rafale and SH are competing. There's no competition there. The Rafale deal is a continuation of the MMRCA, and in that deal, the SH did not even get into the top 2.
The MMRCA has now been split into a higher tier (Rafale) and a lower tier order, SH is fighting for the lower tier order.
SH is competing with the F-16 and Gripen E. And the SH that you are producing right now is the navy version, what IAF may order will be the modernized ASH made for IAF's specs, including 9G wings, not the 'broken' ones the USN's using for carrier ops.