SSPL WEALTH PVT LTD

Hot Pursuit

Scrips, which has significant changes during the market hours.

HFCL soars after Co's consortium emerges as L-1 bidder for BSNL project valued at Rs 6,925 crore

11-Nov-24 13:27 Hrs IST

In a regulatory filing made during market hours today, the company announced HFCL-Rail Vikas Nigam (RVNL)-Aerial Telecom Solutions consortium has been declared as the lowest bidders by Bharat Sanchar Nigam (BSNL), for bids valued at Rs 6,925 crore to provide middle-mile network in Uttar Pradesh (East) and Uttar Pradesh (West) under the BharatNet Phase-III programme of the Government of India.

Additionally, the consortium will be awarded 10 years of O&M order at an annual rate of 5.5% of capex for 1st five years and 6.5% for the subsequent five years which will be of worth Rs 4,155 crore, after commissioning of the first ring of network.

HFCL has also emerged as the top bidder for Punjab circle for a bid value of Rs 1244 crore in the BharatNet phase III tenders, on standalone basis.

Furthermore, HFCL is expected to secure 10 years of O&M order valued at around Rs 746 crore with annual rates of 5.5% per annum of capex for 1st five years and 6.5% per annum of capex for next five years, after commissioning of the first ring of network.

The BharatNet Project is a landmark initiative by the Indian Government aimed at extending high-speed broadband connectivity to rural areas across the nation.

Mahendra Nahata, managing director of HFCL said: 'Our proven track record in executing strategically critical projects, strengthens our standing as trusted partner of the Government of India.

HFCL is well placed with a diverse product line that includes routers, optical fiber cables, fiber connectivity solutions, transport solutions, power management solutions etc., to address the needs of the BharatNet Phase III program.

As a trusted BSNL partner, we look forward to continued collaborations and contributing significantly to the success of BharatNet Phase-III program.'

HFCL is a leading technology company specializing in digital networks for telcos, enterprises, and governments. With its strong R&D expertise and global system integration services, HFCL offers innovative solutions like 5G RAN, 5G Transport, Wi-Fi, and defense electronics. The company has manufacturing plants in India and a global customer base, committed to quality and environmental sustainability.

The company's consolidated net profit rose 4.50% to Rs 73 crore on 1.61% decline in revenue to Rs 1094 crore in Q2 September 2024 over Q2 September 2023.