Polycab India inks agreement with BSNL for Rs 3,003 crore project

Polycab India said that it has executed an agreement with Bharat Sanchar Nigam (BSNL) as project implementation agency (PIA) for Amended BharatNet Program.

The contract, valued at Rs 3002.99 crore, involves the design, supply, construction, installation, upgrade, operation, and maintenance of the BharatNet middle mile network in the Bihar Telecom Circle.

This includes a capital expenditure (Capex) of Rs 1549.66 crore, operational expenditure (Opex) for the newly constructed network of Rs 929.79 crore, and Opex for the existing network of Rs 523.53 crore.

The project has a three-year construction period followed by a ten-year maintenance contract, with annual maintenance fees set at 5.5% of the capex for the first five years and 6.5% for the subsequent five years.

Polycab India is the largest manufacturer of wires and cables in India and a fast-growing player in the Fast Moving Electrical Goods (FMEG) space. The Group is also in the business of engineering, procurement, and construction (EPC) projects.

The company's consolidated net profit jumped 10.82% to Rs 457.56 crore on a 20.40% rise in revenue from operations to Rs 5,226.1 crore in Q3 FY25 over Q3 FY24.

The scrip rose 0.65% to currently trade at Rs 5043.20 on the BSE.

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