HFCL bags order from SWSM for Rs 1,770 cr

HFCL on Sunday said that it has received a contract worth Rs 1,770 crore, from State Water & Sanitation Mission (SWSM), Lucknow for providing EPC services for execution of rural water supply network in Varanasi revenue division in Uttar Pradesh.

The order curtails providing EPC services including operation & maintenance services and provision for laying of optical fiber cables.

The project has to be executed within eighteen months from the date of contract. Thereafter, the company has to provide warranty support for one year and operation & maintenance services for ten years from the completion of the project.

The contract value for material and services is Rs 1,414 crore and Rs 356 crore is for operation and maintenance services. The project will be executed by the company with JWIL Infra as a consortium partner.

HFCL is engaged in a diverse telecom infrastructure enabler with active interest spanning telecom infrastructure development, system integration, and manufacture and supply of high-end telecom equipment, Optic Fibre and Optic Fibre Cable (OFC).

On consolidated basis, HFCL's net profit rose marginally to Rs 81.86 crore on 4.6% rise in net sales to Rs 1,173.47 crore in Q2 FY23 over Q2 FY22.

The scrip rose 0.87% to currently trade at Rs 80.95 on the BSE.

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