Bengaluru: India’s Telecom Product-based company, Tejas Networks [BSE: 540595], has received the purchase order from Sterlite Technologies (STL) and L&T Construction worth Rs. 32 crores for its GPON (Gigabit Passive Optical Network) fiber-to-the-home (FTTH) equipment for a state-led Bharatnet project in south India.
BharatNet is the largest rural broadband project in the world that aims to provide high-speed Internet connectivity over optical fiber to villages in India.
As part of this order, Tejas Network will supply it’s GPON OLT and ONT products. The company is the leading supplier of GPON OLT/ONT products for the BharatNet Phase-1 project and has been honored by India’s government as one of the best-performing equipment suppliers BharatNet Phase-1.
According to Mr. Sanjay Nayak, Managing Director, and CEO of Tejas Networks,
We are excited about this partnership with Sterlite Technologies and L&T Construction on this crucial government project to eliminate the digital divide separating rural and urban populations.
Tejas Networks family is fully committed to do our part and fulfill honorable Prime Minister of India’s dream of an “Atmanirbhar Bharat” in telecom equipment and to help connect all villages in the country on BharatNet within 1000 days.
Tejas Networks had a consolidated net loss of Rs 9.76 crore in Q1 June 2020 compared to Rs 5.85 crore’s net profit in Q1 June 2019. Companies Net sales declined 50.5% to Rs 80.11 crore in Q1 June 2020 over Q1 June 2019.
After announced wining of Rs 32 crore orders for a state-led BharatNet project, the company hit an upper circuit of 5% (at Rs 64.80) after the company.
Shares of Tejas Networks have risen for the third straight session and have hit the upper circuit for the second consecutive session.
Tejas Networks designs, develop, and sell high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defense, and government entities in over 75 countries. The company is ranked among the top-10 suppliers in the global optical aggregation segment and has filed over 349 patents.
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