A consortium led by Rail Vikas Nigam Limited (RVNL), HFCL Limited, and Aerial Telecom Solutions has been declared the lowest bidder for a project from Bharat Sanchar Nigam Limited (BSNL).
What Happened: The project, to be executed over three years, involves the development, upgradation, and operation & maintenance of the middle mile network of Bharat Net on a Design Build Operate and Maintain (DBOM) model. The contract, estimated at ₹1917.39 crore, includes a 10-year maintenance agreement following the construction phase.
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This is the second major order from the telecom company to the RVNL-led consortium. On Tuesday, RVNL, along with HFCL Limited and Aerial Telecom Solutions Pvt. Ltd., bagged a massive ₹5,000 crore project from BSNL.
This win comes on the heels of a series of successful bids by RVNL. On November 5, 2024, a joint venture between RVNL and Rithwik Projects Pvt. Ltd. was announced as the lowest bidder for a rail infrastructure project in Karnataka, worth ₹613 crore.
The company will be posting its earnings for the quarter ended September on November 7.
Price Action: RVNL’s share price was up 4.16% to close at ₹469.65 on Wednesday.
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