Techno Electric ends higher after bagging contract for data centers from RailTel Corp

Techno Electric & Engineering Company advanced 2.34% to end at Rs 1660 after the company announced that it been awarded a contract to design, build, finance, operate, and transfer Edge Data Centers (EDCs) by RailTel Corporation of India.

Accordingly, the company will establish EDCs in 102 Indian cities for RailTel Corporation under a 20-year concession agreement, extendable by five years.

Techno Electric stated that the Edge Data Centers in India will play a pivotal role in meeting the low latency and high bandwidth requirements that are essential for a range of applications, including digital skills, financial inclusion, digital health & literacy, Al, AR, Internet of Things (loT), content delivery, and cloud gaming. This infrastructure will ensure that customers receive optimal digital experiences, driving innovation and progress in various sectors.

Ankit Saraiya, director of Techno Electric & Engineering Company (TEECL), said: This is a major milestone for us and a testament to our commitment to building digital infrastructure for the people of India.

We are bullish about digital empowerment in India, and this contract with RailTel will allow us to fulfil the needs of a rapidly growing digital population. We are honoured to be RailTel's Business Associate and look forward to a long association.

Techno Electric & Engineering Company is a recognized company in the power sector. It provides engineering, procurement and construction services to the three segments of power sector including generation, transmission and distribution. The company is also engaged in generation of wind power through wind turbine generators in the states of Tamil Nadu & Karnataka.

The companys consolidated net profit surged to Rs 98.10 crore in Q1 FY25 as compared with Rs 25.56 crore in Q1 FY24. Revenue jumped 37% YoY to Rs 375.37 crore during the quarter.

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