Sterlite Technologies, along with Dilip Buildcon, has received a ₹2,631.14 crore contract from Bharat Sanchar Nigam Limited (BSNL) for setting up the BharatNet middle-mile network in Jammu & Kashmir and Ladakh. The contract was announced through an exchange filing on June 11, 2025.
The order was secured through Sterlite’s demerged global services vertical. It includes the design, supply, construction, installation, upgrade, operation, and maintenance of the optical fibre network in the two telecom circles. The project will involve 3 years of construction followed by a 10-year maintenance period.
As per the company, the estimated capital expenditure for the project stands at ₹1,620.50 crore. In addition, operating expenditure is projected at ₹972.30 crore for the new network and ₹38.33 crore for existing infrastructure.
The contract falls under BharatNet Phase III, a central government project aimed at improving rural digital connectivity. In 2023, the Union Cabinet had approved ₹1.39 lakh crore for the program, targeting last-mile fibre connectivity across 6.4 lakh villages.
BSNL floated tenders for similar projects across 16 states and union territories. In November 2024, Sterlite Tech had emerged as the lowest bidder in another BharatNet Phase III package.
Sterlite is responsible for executing the project across Jammu & Kashmir, taking fibre to every village in the region under this specific contract. The company has indicated that individual states may open more BharatNet-related opportunities going forward.
For the March 2025 quarter, Sterlite Tech reported a net loss of ₹40 crore, compared to a ₹82 crore loss in the same quarter the previous year. Revenue rose to ₹1,052 crore from ₹843 crore in Q4 FY24.
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As of 09:09 AM on June 12, 2025, Sterlite Technologies share price is trading at ₹84.50, a 9.78% increase. The stock has seen a 36.55% decline over the past 6 months and a 40.93% decline over the past year.
The order adds to Sterlite Technologies’ ongoing involvement in large-scale government telecom infrastructure projects focused on rural and remote connectivity.
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Published on: Jun 12, 2025, 10:02 AM IST
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