ITI Signs Rs 1,900-Crore Pact With BSNL Under BharatNet Phase-3 Project

ITI Ltd. signed an agreement with BSNL for "NERII Package-15" under BharatNet Phase-3 Project, valued Rs 1,901 crore, according to a release issued on Monday.

Out of the total contract value, Rs 1,168 crore is allocated for capital expenditure, Rs 700.84 crore as operational expenditure for the newly constructed network and Rs. 32.21 crore as opex to maintain the existing network, the release added..

The company has also entered into agreements with BSNL for "Package No 8" in Himachal Pradesh and "Package No 9" in West Bengal, along with the Andaman and Nicobar Islands, for a combined order value of Rs 5,055 crore.

In November, ITI and its consortium partner were declared as the lowest bidder for "Package No. 15" of the BharatNet Phase-3 Project including the state of Arunachal Pradesh, Nagaland, and Manipur.

With this, ITI has signed agreement with BSNL for packages 8,9 and 15 taking the total order size to Rs 6,956 crore.

The BharatNet Phase-3 Project is divided into 16 packages across all states and union territories.

Shares of ITI closed 4.99% higher at Rs 336.65 apiece on the National Stock Exchange, compared to a 0.47% fall in the benchmark Nifty. The stock has risen 8.74% in the last 12 months but fallen 13.04% on a year-to-date basis.

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