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.”
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.
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