HFCL Ltd. has bagged a purchase order worth Rs 623 crore from a domestic telecom service provider.
The company received an order to supply 5G telecom networking equipment and the order needs to be executed by December 2024, an exchange filing said on Friday.
This is the first such large order for 5G networking equipment given to any Indian company by any telecom service provider, which shows HFCL's vision to design and manufacture high technology telecom equipment in India, the filing said.
"Our recent order wins are clearly a testament that our strategy of moving from projects to margin-accretive products, launching new products, reaching out to new customers and new geographies is paying off well and will bolster our position even further in 2024,” said Mahendra Nahata, managing director of HFCL Ltd.
The company creates digital networks for telecom companies, enterprises and governments. It has become a trusted partner to offer sustainable high-tech solutions, along with providing the latest technology products to customers, it said.
Shares of HFCL closed 4.40% higher at Rs 88.31 apiece, as compared with a 0.70% rise in the benchmark BSE Sensex.
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