RailTel Corporation of India, in consortium with Ashoka Buildcon, has received a Letter of Intent (LoI) for a major technology-led modernisation project under the Government of Maharashtra. The five-year contract is worth approximately Rs 1,136.18 crore, the state-owned company informed the stock exchanges on Feb. 20.
In an exchange filing on Friday, RailTel said that the LoI was issued by the Inspector General of Registration (IGR) for the selection of a Managed Service Provider (MSP) to modernise the offices of IGR and the Controller of Stamps across the state.
The contract will be executed by March 19, 2032, RailTel Corporation informed the stock exchanges.
“As per LoI, the accepted rate per page is Rs 24.75 (Page refers to a scanned single side page of a registered document). The consideration value is not stated in the LoI,” the filing said.
Based on historical data cited in the request for proposal, the average number of pages scanned annually over the past five years stands at around 9.18 crore.
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On this basis, the expected financial cost for the five-year contract period is estimated at approximately Rs 1,136.18 crore. RailTel added that the actual figures may vary.
The company clarified that neither its promoters nor promoter group entities have any interest in the awarding authority, and that the order does not fall under related party transactions. The LoI was received on Feb. 20 at 3:23 p.m.
This week, RailTel Corporation of India also won a major railway signalling order valued at Rs 35.55 crore.
The state-run telecom and ICT services provider informed exchanges on Feb. 19 that it has received a Letter of Acceptance (LoA) from Dy Cste/P/Cnb for a railway signalling project in the Prayagraj division of the North Central Railway.
The contract involves the provision of MSDAC (Multiple Section Digital Axle Counter) systems along with other associated works. This includes suitable indoor alterations at EI, RRI and PI stations in the Prayagraj division. The project is classified as a domestic railway signalling assignment and is to be completed within 24 months from the date of the LoA.
According to the filing, the work is scheduled to be executed by Feb. 17, 2028. The Letter of Acceptance was received on Feb. 18 at 4 p.m.
The company reported a 4.1% year-on-year (YoY) drop in net profit to Rs 62.4 crore in Q3FY26 from Rs 65.05 crore in Q3FY25. Revenue from operations rose 19% YoY to Rs 913.45 crore in Q3FY26 from Rs 767.62 crore in the same period in the previous financial year.
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