HFCL Limited and its consortium partners have emerged as the lowest bidders for multiple contracts worth over ₹8,100 crore in the BharatNet Phase III project, the company announced today.
The HFCL-led consortium, which includes Rail Vikas Nigam Limited (RVNL) and Aerial Telecom Solutions Private Limited, secured bids valued at approximately ₹6,925 crore to provide middle-mile network infrastructure in Uttar Pradesh East and West regions.
The shares of HFCL Limited were trading at ₹128.89 up by ₹2.10 or 1.66 per cent on the NSE today at 1.40 pm.
Additionally, HFCL independently won the bid for the Punjab circle, valued at ₹1,244 crore. The company will receive subsequent operations and maintenance (O&M) orders worth ₹4,155 crore for the UP projects and ₹746 crore for Punjab over a 10-year period.
The BharatNet Phase III initiative aims to connect 6.4 lakh Indian villages with high-speed internet, targeting over 250,000 gram panchayats with a minimum bandwidth of 100 Mbps. The project is designed to bridge the digital divide in rural and underserved areas.
HFCL Managing Director Mahendra Nahata highlighted the company’s diverse product portfolio, including routers, optical fiber cables, and transport solutions, positioning it to meet the program’s requirements.
The company operates manufacturing facilities in Hyderabad, Goa, Chennai, and Manesar, producing telecom equipment under the government’s Production-Linked Incentive (PLI) Scheme.