HFCL wins BharatNet orders worth ₹8,169 crore in consortium and standalone

HFCL Ltd. on Monday, November 11, said that its consortium with Rail Vikas Nigam Ltd. (RVNL) and Aerial Telecom Solutions has been declared as the lowest bidder for a BharatNet project by BSNL.

The consortium's bids worth ₹6,925 crore are to provide middle-mile network in Uttar Pradesh east and west under the Centre's BharatNet Phase III programme.

The consortium partners will also receive a 10-year O&M order in due course of time, the company said. This will be at an annual rate of 5.5% of capex for first five years and 6.5% for the remaining years, which will be worth ₹4,155 crore, after the first ring of network is commissioned.

HFCL said it also emerged as the top bidder for Punjab circle for a bid value of ₹1,244 crore in the BharatNet Phase III tenders, on a standalone basis. The company is also set to secure 10 years of O&M order valued around ₹746 crore with an annual rate of 5.5% per annum for the first five years and 6.5% for the remaining five, after commissioning of the first ring of network, the company said.

"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 need of the BharatNet Phase III programme," Mahendra Nahata, the managing director of HFCL, said.

HFCL shares were trading 4.11% higher at ₹132 apiece at 12.40 pm on Monday, November 11. The stock has gained 55.78% this year, so far.

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