The execution timeline for the project is two years for implementation, followed by 10 years of operations and maintenance. The total contract value of ₹2,666.09 crore includes a capital expenditure component of ₹1,192.82 crore and an operating expenditure component of ₹1,473.27 crore.
Also Read: HFCL Q3 profit jumps 36% YoY, margins expandHFCL noted that this order is in addition to an earlier ₹2,167.65 crore contract awarded by RVNL for BharatNet Phase-III projects in Uttar Pradesh (East) and Uttar Pradesh (West) telecom circles, which was intimated on January 23, 2025.
The company stated that the contract has been received in the normal course of business. HFCL confirmed that the promoter or promoter group has no interest in the awarding entity and that the order does not fall under related party transactions.This month, HFCL approved multiple transactions to consolidate and expand its defence and aerospace business through HFCL Advance Systems Private Ltd (HASPL). HFCL approved an investment of ₹89.25 crore in HFCL Advance Systems Private through subscription to equity shares in two tranches under a share subscription agreement.
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The company said a total investment of ₹175 crore will be made in HFCL Advance Systems Private by HFCL, Anant Nahata, Sushant Mohan Gupta, Shubhra Gupta, BAS Engineering Private Limited and ITI Holdings and Investment Private Ltd.
Post completion of the transaction, HFCL will hold 51.02% stake in HFCL Advance Systems Private. ITI Holdings and Investment Private Limited and the proposed HFCL Advance Employee Trust will each hold 14.99%, while Anant Nahata will hold 6.50%. Sushant Mohan Gupta and Shubhra Gupta will each hold 4.75%, and BAS Engineering Private Limited will hold 3%.
Shares of HFCL Ltd ended at ₹190.20, down by ₹1.25, or 0.66%, on the BSE.
Also Read: HFCL shares jump 11% as Q4 profit rebounds; sees EBITDA margin at 21% by FY29
First Published: Jun 17, 2026 6:57 PM IS
