HFCL Bags ₹2,666 Cr BharatNet Phase-III Order

Key Highlights • Secured a ₹2,666.09 Cr contract from Rail Vikas Nigam Limited (RVNL) under the BharatNet Phase-III project. • Scope of work includes: Supply of telecom equipment Installation and commissioning Creation of Optical Fiber Cable (OFC) network Network deployment in **Uttar Pradesh (West region) Order Breakdown • Capex Component: ₹1,192.82 Cr • Opex Component: ₹1,473.27 Cr Execution Timeline • 2 years for project execution • 10 years of maintenance and operations support What Stands Out • HFCL's cumulative BharatNet orders from RVNL now exceed ₹4,800 Cr. • Large O&M component provides long-term revenue visibility beyond initial project deployment. • Strengthens HFCL's position in India's telecom and digital infrastructure buildout. Why It Matters The BharatNet program is one of India's largest rural broadband initiatives. Large contracts under the program can create sustained revenue streams through both network deployment and long-term maintenance. Learning Outcome Infrastructure contracts that combine capital expenditure and long-term maintenance components often provide better revenue visibility and recurring cash flows compared to one-time project orders. $HFCL