ITI Ltd Hits Upper Circuit After ₹1,901 Crore BharatNet Contract Win

30 Jun 2025 , 03:55 PM

Shares of ITI Limited surged 5% to hit the upper circuit at ₹336.65 on the NSE after the state-run telecom equipment maker announced a major contract win under the BharatNet Phase-3 rollout. The company has signed a ₹1,901 crore agreement with Bharat Sanchar Nigam Limited (BSNL) for executing the NER-II Package-15, which covers the northeastern states of Arunachal Pradesh, Nagaland, and Manipur.

The project is split into three parts:

• ₹1,168 crore has been earmarked for capital expenditure to build new network infrastructure,
• ₹700.84 crore will go towards operational expenses for running the new network, and
• ₹32.21 crore has been allocated for maintaining existing assets.

This is the third significant contract awarded to ITI under the BharatNet Phase-3 initiative. Earlier, the company secured Package 8 for Himachal Pradesh and Package 9 covering West Bengal and the Andaman & Nicobar Islands. With the latest win, the cumulative value of ITI’s orders under this phase has risen to ₹6,956 crore.

Commenting on the development, Chairman and Managing Director Rajesh Rai called it a challenging but exciting opportunity. “I’m thankful to BSNL for once again placing their trust in ITI. We’re fully geared up to execute the project with complete dedication,” he said.

ITI’s responsibilities will include the design, construction, operation, and maintenance of the network’s middle-mile infrastructure. The company will execute the contract under the Design-Build-Operate-Maintain (DBOM) model, ensuring end-to-end delivery and sustained support for the new connectivity backbone in these remote regions.

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