HFCL bags contract worth Rs1,770 crore from SWSM, Lucknow

28 Nov 2022 , 09:27 AM

HFCL Limited informed that it has received a contract aggregating to Rs1,770 crore from SWSM for providing EPC Services. The contract includes provisions for laying optical fibre cables in the Varanasi Revenue Division of the state of Uttar Pradesh for the execution of the Rural Water Supply Network.

The company stated that this will add significantly to its revenue and profitability. The optical fibre cables that are to be laid will also improve network operation and maintenance.

The contract value for materials and services is Rs1,414 crore, and the contract value for operation and maintenance services is Rs356 crore.

The aforementioned project will be carried out by the company in collaboration with JWIL Infra Limited as a consortium partner.

The project is expected to be completed within eighteen months of the contract date. Following the completion of the project, the company will also provide warranty support for one year and operation and maintenance services for ten years.

At around 9.26 AM, HFCL was trading at Rs81.40 up by 1.43% from its previous closing of Rs80.25 on the BSE. The scrip opened at Rs81.60 and touched intraday high and low of Rs82.30 and Rs81.10 respectively.

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