RailTel Bags ₹99 Crore Contract from Bihar Government for Student Kits

22 Mar 2024 , 10:09 AM

RailTel Corporation witnessed a surge of over 3.6% in its shares on March 21, following the announcement of a significant contract from the Bihar government’s education department. The contract, valued at more than ₹99 Crore, mandates RailTel to supply student kits (teaching learning material) for Classes VI to XII under the Bihar Education Project Council.

The PSU aims to complete the execution of the contract by June 13, 2024, as stated in the stock exchange filing.

This development propelled RailTel Corp shares to an intra-day high of ₹362.95 apiece on the BSE, elevating the company’s market capitalization to over ₹11,500 Crore.

Sanjai Kumar, CMD of RailTel Corporation, revealed that the company’s current order book stands at ₹4,900 Crore, with notable orders in March amounting to around ₹1,250 Crore for the quarter.

Approximately 40% of the total order book is anticipated to translate into revenues by FY25, with plans to surpass the current growth guidance by 25% in the next year.

Earlier in March, RailTel secured an ₹88 Crore work order from the State Transport Authority, Odisha, to enhance the command control center and implement an Intelligent Enforcement Management System (IEMS).

In February, the company received a ₹125 Crore contract from Western Railway for the implementation of a unified communication infrastructure, involving IPMPLS LAN Infrastructure, VOIP exchange, and IP-based control communication.

In January, RailTel was awarded a ₹162.73 Crore work order from Navodaya Vidyalaya Samiti under the PM SHRI initiative, aimed at providing integrated infrastructure and IT solutions in JNVS schools.

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