HFCL Secures Agreement with BSNL for BharatNet Phase III Implementation in Punjab

HFCL Limited has officially signed an agreement with Bharat Sanchar Nigam Limited (BSNL) to implement BharatNet Phase III in the Punjab Telecom Circle. This development follows HFCL’s earlier receipt of an Advance Work Order (AWO) from BSNL, valued at approximately ₹2,501.30 crore.

The share price of HFCL on February 20, 2025, opened at ₹88.53, down by 0.30%.

Strengthening Digital Connectivity in Punjab

As part of this agreement, HFCL will serve as the Project Implementation Agency (PIA) for BharatNet Phase III, an initiative aimed at expanding broadband connectivity to rural and underserved regions of Punjab. BharatNet is a flagship government programme designed to enhance digital access across India, facilitating the last-mile fibre-optic connectivity necessary to bridge the digital divide.

HFCL Becomes the First to Sign Under BharatNet Phase III

HFCL’s agreement with BSNL marks a significant milestone, as the company becomes the first to formalise such a contract under BharatNet Phase III. This underscores its role as a key player in India’s telecommunications infrastructure, furthering its commitment to strengthening digital networks nationwide.

Next Steps: Project Implementation to Begin

With the agreement in place, HFCL is set to commence project implementation immediately. The initiative will involve the deployment of high-speed fibre-optic networks, supporting the Indian government’s vision of widespread digital inclusion.

Management Ambition to Reach ₹10,000 Crore Revenue

Last week, HFCL’s Managing Director, Mahendra Nahata, stated that the company is focusing on expanding overseas sales and increasing defence supply uptake as part of its ambition to become a ₹10,000-crore revenue enterprise.

“We are increasing our presence by appointing our own employees, distributors, and dealers in key global markets. Our goal is to achieve a substantial rise in export revenue from our optic fibre segment, with a significant portion of revenue coming from international markets in the coming years. Additionally, we aim for a considerable share of our telecom segment revenue to be export-driven,” Nahata had said.

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