Telecom equipment maker HFCL (Himachal Futuristic Communications Ltd) said that it has received an advance purchase order worth Rs. 611 crores from state-run BSNL (Bharat Sanchar Nigam Limited) for broadband connectivity in Madhya Pradesh.
HFCL said in a BSE filing that the contract is for the survey, procurement, supply, trenching, laying, installation, testing and maintenance of optical fibre cable (OFC), accessories and GPON equipment in Madhya Pradesh under Centre’s BharatNet programme.
The total material cost and service cost are Rs 207 crore and Rs 245 crore, respectively aggregating to Rs 452 crore. It also added, “The company shall also provide operation and maintenance services for a period of seven years at a total cost of Rs 59 crore under this project.”
HFCL said around 1,038 Gram Panchayats in 13 Blocks in Madhya Pradesh will get broadband connectivity with this project. The share price of HFCL surged by more than 4% after the announcement of order, with the share price closing at Rs. 23.30 during the wednesday trading session.