ITI soars on BharatNet project win

ITI jumped 12% to Rs 338.80 on emerges as the lowest bidder for three packages of BharatNet phase-3 project for a total value of Rs 4559 crore.

ITI with its consortium partner has emerged as the lowest bidder (L1) for package no. 15 of BharatNet phase-3 project comprising Arunachal Pradesh, Nagaland and Manipur states with an order value of Rs 1537 crore. ITI also emerged as L1 (on November 7, 2024) for package no. 8 in the state of Himachal Pradesh, and for package no. 9 in West Bengal, & Andaman and Nicobar Islands with an order value to Rs 3022 crore. With this, ITI has emerged as L1 for three packages (8, 9, & 15) taking the total order value to Rs 4559 crore.

The BharatNet phase-3 project is divided into 16 Packages spread across all states & union territories. BSNL had invited tenders, for design, supply, construction, installation, upgradation, operation and maintenance of Middle Mile Network of BharatNet phase-3 project on a Design Build Operate and Maintain (DBOM) model.

 

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

On a consolidated basis, ITI reported net loss of Rs 91.31 crore in Q1 June 2024 as against net loss of Rs 102.81 crore in Q1 June 2023. Net sales soared 231.11% year-on-year to Rs 519.98 crore in Q1 June 2024.

The company's board will consider Q2FY25 results on Thursday, 14 November 2024.

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