ITI Ltd. has secured a Rs 856.39 crore contract from Bharat Sanchar Nigam Ltd. to expand the state-owned telecom operator's 4G mobile network across western India, adding to its existing work on BSNL's indigenous 4G rollout.
The order covers planning, engineering, supply, installation, testing and commissioning of a 4G mobile network on a turnkey basis at 7,613 sites in the West Zone, the company said in a press release filed with exchanges on Thursday.
The announcement lifted ITI stock to an intraday high of Rs 302.40, snapping a two-day losing streak. It was up 2.2% over the past five trading sessions, though it remained down 3% over the last 30 days.
The latest contract comes after ITI, along with Tata Consultancy Services as its consortium partner, completed a Rs 2,640 crore turnkey project for BSNL's Phase IX.2 rollout across Maharashtra, Goa, Gujarat, Chhattisgarh, Madhya Pradesh and the Mumbai Licensed Service Area. That project involved deployment of the 4G network across 23,633 sites.
The new work order covers the expansion of BSNL's 4G network, including saturation sites funded under the Digital Bharat Nidhi programme, with installation and commissioning of equipment at 7,613 additional locations. The project is part of BSNL's indigenous 4G programme aimed at increasing the use of locally developed telecom equipment.
Management Commentary
"It is a very proud moment for ITI Limited as our prestigious client BSNL continues to repose great trust in ITI Limited's execution capability by awarding work order to us," Chairman and Managing Director Rajesh Rai said.
"ITI Limited has steadfastly been executing and has proved to be an able ally in the country's Atmanirbhar telecom initiatives," he added.
ITI also said it is currently executing BharatNet Phase III projects worth about Rs 7,000 crore for BSNL in Himachal Pradesh, West Bengal, Andaman and Nicobar Islands, Arunachal Pradesh, Nagaland and Manipur.
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