ITI bags work order worth Rs 433 cr from the Govt. of Tamil Nadu

Multi-technology public sector major ITI received a work order worth Rs 432.97 crore from TANFINET (Tamil Nadu Fibrenet Corporation), a Govt. of Tamil Nadu Undertaking regarding BharatNet Phase-II in Tamil Nadu for Package D.

The project will be implemented within a span of 360 days, followed by three years for Operations & Maintenance (O&M) from the date of 'Project Go-Live' in accordance with the delivery schedules.

The scope of work of includes planning, survey, supply, installation, commissioning, testing, end-to-end integration, operation & maintenance of Optical Fibre Network (OFN) and Electronics for Broadband connectivity under BharatNet Phase- II in Tamil Nadu for Package D. As part of this package, ITI will be covering 10 districts/ 109 blocks/ 3,103 Gram Panchayats/ 845 revenue villages across the length and breadth of Tamil Nadu state providing a minimum of 1 Gbps bandwidth service.

The package also includes radio connectivity for Gram Panchayats that cannot be connected through fiber, implementation of horizontal connectivity to government premises, schools, and primary health centres (PHCs). Around 15,000 kms of fiber cable will be laid, that includes underground and aerial fiber to connect Gram Panchayats with blocks, district centers, and state headquarter.

ITI is the Project Implementation Agency (PIA) for MahaNet-I (BharatNet Phase II) in Maharashtra. In Gujarat, ITI is executing two packages of BharatNet Phase II, for Gujarat Fiber Grid Network (GFGNL).

On a consolidated basis, ITI's net loss stood at Rs 55.78 crore in Q2 FY22 as compared to a net loss of Rs 56.05 crore in Q2 FY21. Net sales stood at Rs 352.49 crore in Q2 September 2021, registering a 18.8% drop from Rs 433.97 crore in Q2 September 2020.

ITI, a multi-unit central public sector undertaking, is a total solution provider in telecommunications segment. It offers complete range of telecom products covering the whole spectrum of switching, transmission, access and subscriber premises equipment.

Shares of ITI rose 0.35% to Rs 113.45 on BSE. As of 30 September 2021, the Government of India held 90.06% stake while the Governer of Karnataka held a minor 0.03% stake in the company.

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