ITI rallies on bagging Rs 300-cr order from BREDA

ITI jumped 6.56% to Rs 301.50 after the company has received an order around Rs 300 crore from Bihar Renewable Energy Development Authority (BREDA) for supply and installation of 1,00,000 numbers of solar street light systems in Bihar.

The said order is in addition to 80,000 solar street light systems the company is currently executing in Bihar for BREDA.

ITIs Naini Plant which has been manufacturing solar panels for the last 6 years has received an order for supply & installation of 1,00,000 numbers of Solar Street light Systems amounting to around Rs 300 crore under Mukhyamantri Gramin Solar Street Light Yojana.

The districts covered in the said order are Gopalgunj, Siwan, Samastipur, Purnia, Araria, Gaya, Darbhanga, Patna, Katihar, and Khagaria.

The above-mentioned systems are to be installed under supervision of Bihar Renewable Energy Development Authority (BREDA) and the major components of the solar streetlight systems are solar PV module, solar batteries, LED luminaries, mounting structures, and balance of system (BOS).

Rajesh Rai, chairman and MD, ITI, said, "ITI is extremely delighted to partner with Government of Bihars BREDA again to provide street lights with sustainable solar energy. It gives me immense satisfaction that the Bihar Government has come back to ITI by reposing faith in our ability for their developmental initiatives. Our team has been working hard to provide the best-in-class products and services, and I am confident that we will execute this prestigious project too to the best expectations of our client. With this additional Order, we have established ITI as a reliable solar systems provider striving for a greener tomorrow.

Further, Rai added, ITI has now amassed dependable experience of efficiently supplying and installing solar street light systems in urban as well as rural hinterlands.

ITI, countrys premier telecom company and multi-unit central public sector undertaking, is a total solutions provider in telecommunications segment. The company has state-of-art manufacturing facilities in six locations (Bengaluru, Naini, Raebareli, Mankapur, Srinagar and Palakkad) along with an in-house R&D centre in Bengaluru and marketing, sales & projects (MSP) offices spread across the country.

The company reported consolidated net loss of Rs 91.31 crore in Q1 FY25 as compared with net loss of Rs 102.81 crore posted in corresponding quarter last year. Net sales surged to Rs 519.98 crore in Q1 FY25 as compared with Rs 157.04 crore in Q1 FY24.

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