Railtel Corp received a Rs 79.8 crore order from Maharashtra Housing Body

Equipped with a Pan-India optic fiber network, RailTel is a “Navratna” Central Public Sector Enterprise that offers information and communication technology. It is also one of the biggest providers of neutral telecom infrastructure in the nation. The OFC network reaches numerous rural areas as well as the nation’s major towns and cities. On September 26, 2000, RailTel was incorporated to utilize the right-of-way along railroad tracks to lay optical fiber cable to create a nationwide broadband and multimedia network, modernize the current telecom system for train control, operation, and safety, and create additional revenue. Currently, RailTel’s optical fiber network spans more than 61000 route kilometers and more than 6108 railway stations throughout India. We have access to more than 21,000 km of cities nationwide.

RailTel Corp. received a Rs. 79.8 crore order.

The Maharashtra Housing and Area Development Authority placed an order with RailTel Corp. on Tuesday for Rs 79.8 crore. The deadline for finishing the project is January 15, 2025, according to a Tuesday exchange filing.

RailTel previous projects.

RailTel was given an order by the Maharashtra Rural Development Department in September that was valued at Rs. 156 crore. The ASSK-GP projects in the Konkan, Pune, and Nashik regions were operationalized as part of the Rs. 156 crore order. The telecom infrastructure provider became the 22nd central public sector enterprise to receive prestigious Navratna status on September 2nd when it was granted this distinction. 

RailTel was not the only company to be awarded the Navratna status; Satluj Jal Vidyut Nigam Ltd., National Hydroelectric Power Corp., and Solar Energy Corp. The best public sector enterprises in India are known as Navratna companies because of their exceptional operational and financial capabilities.

RailTel performance.

RailTel Corp. announced that its first-quarter profit for the current fiscal year increased by 27% to Rs 48.7 crore. In comparison, the same period the previous year brought in Rs 38.4 crore. For the three months ended June 30, the company reported revenue of Rs 558.1 crore, up 19% from Rs 467.6 crore in the same quarter of the previous fiscal year. The New Delhi-based company’s earnings before interest, tax, depreciation, and amortization came to Rs 103.4 crore for the quarter ending in the previous fiscal year, a 14.8% increase over Rs 90 crore.

The stock of RailTel Corporation of India Ltd. rose by more than 8% today.

Since the Maharashtra Housing and Area Development Authority’s work order was received, the stock of Railtel Corporation of India Ltd. has increased by 8% intraday to trade at Rs. 449.00.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.