Tejas Networks Wins Expansion Order of Rs. 336 Cr from BSNL for BharatNet
Bengaluru, March 27, 2018: Tejas Networks [BSE: 540595, NSE: TEJASNET] today announced that it has received a new purchase order of Rs. 336 Cr from BSNL for expansion of BharatNet, the world’s largest rural broadband project. Tejas Networks designs develops, manufactures and sells high-performance optical and data networking products, which are used to build high-speed communication networks over optical fiber.
Mr. Sanjay Nayak, Managing Director and CEO of Tejas Networks said, “We are pleased to receive this additional purchase order from BSNL for BharatNet. This order reinforces the confidence that BSNL and BBNL have in our capabilities to successfully execute large national projects of strategic importance. For BharatNet Phase-1, we played a major role and were honoured as the best performing equipment partner by the Government of India.”
Mr. Nayak further added, “For the fiscal year 2018, we earlier expected our revenue growth to be around 5%. The nature of our business is that our revenues depend on timely win of large orders. Due to delays in receiving certain large orders, we expect our revenues for fiscal year 2018 to show a year-on-year decline. However, we continue to see strong growth potential for our business over the next few years, especially from our customers in India, driven by the exponential growth in data traffic and robust capex investments on broadband infrastructure. Given our healthy order pipeline and strong business momentum, we are well set for strong revenue and profitability growth for the coming fiscal year.”
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ABOUT TEJAS NETWORKS
Tejas Networks designs, develops and sells high-performance and cost-competitive networking products to telecommunications service providers, internet service providers, utilities, defense and government entities in over 75 countries. Tejas products utilize programmable, software-defined hardware architecture with a common software code-base that delivers seamless upgrades of new features and technology standards. Tejas Networks is ranked among top-10 suppliers in the global optical aggregation segment and has filed over 349 patents.
For more information, visit Tejas Networks at http://www.tejasnetworks.com or
Contact
Investor Relations: ir@india.tejasnetworks.com
Attn: Mr. Santosh Kesavan: skeshavan@india.tejasnetworks.com
Phone: +91 80 41794600
SAFE HARBOUR
Certain Statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in Such forward-looking statements due to risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to successfully implement our strategy and our growth and expansion plans, technological changes, our exposure to market risks, general economic and political conditions in India which have an impact on our business activities or investments, changes in the laws and regulations that apply to the industry in which the Company operates. The Company does not undertake to update any forward looking statements that may be made from time to time by or on behalf of the Company.