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HFCL receives its largest ever single Purchase Order

Posted On: 2019-08-21 08:28:38

Himachal Futuristic Communications Limited - HFCL (BSE:500183, NSE:HFCL), India's leading telecom infrastructure developer, system integrator and manufacturer of high-end telecom equipment and optical fibre cables has received its largest ever purchase order worth Rs.2467 crore from Bharat Sanchar Nigam Limited for turnkey development, operations and maintenance of Communication Network for Indian Army. The Project is to be completed within 18 months. The Project has an additional Operations & Maintenance component of Rs.862 crore to be realised over a period of 10 years from the commissioning of said Network. The combined value of the Project, therefore, stands at Rs.3329 crore.

Funded by Department of Telecom, Government of India, the Turnkey Project entails design, development, de.ployment and maintenance of Converged Nationwide IP/MPLS Backbone with 219 X Access Networks and Integrated IMS based Communication Solutions under Network for Spectrum (NFS) Programme of the Government of India. This next generation Network would connect various locations of Indian Army while aiso integrating all existing and legacy networks with this advanced IP/MPLS network to offer seamless and secure transmission of voice, data, video and multi-media.

Commenting on the said Project, the Company's Managing Director, Mahendra Nahata said, "We are proud to have been awarded this prestigious Project. This advanced next generation network would be very critical communication Network for Indian Army. We are thankful to the Government of India for reposing its continued confidence on the Company". Reflecting on the long-term impact of this prestigious win, he further added, "Besides augmenting revenue growth, this Project shall add to the Company's profitability and cash flows. The O&M component, at the same time, shall contribute to the profitability of the Company over a fairly long term."

Shares of HIMACHAL FUTURISTIC COMMUNICATIONS LTD. was last trading in BSE at Rs.19.85 as compared to the previous close of Rs. 18.85. The total number of shares traded during the day was 1100497 in over 2133 trades.

The stock hit an intraday high of Rs. 20.45 and intraday low of 19.65. The net turnover during the day was Rs. 21964438.

Source: Equity Bulls

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