Sterlite Technologies share price jumps over 15% after securing ₹2,631 crore BSNL BharatNet contract in J&K and Ladakh

The stock climbed as much as 15.21% to ₹88.68 apiece on the National Stock Exchange (NSE). At 10 am, it was up 12.69% to ₹86.74 per unit.

According to a exchange filing on June 11, the company, via its Global Services Business (the demerged business vertical), in consortium with infrastructure developer Dilip Buildcon Ltd, entered into an agreement with BSNL. The order size is ₹2,631.14 crore.

The deal is related to the design, construction, installation, operation, upgrading, and maintenance of BharatNet's middle-mile network for the Jammu and Kashmir and Ladakh Telecom Circles – Package 13, the regulatory filing said.

The order needs to be completed in three years. The maintenance contract is for 10 years at 5.5% per annum of capital expenditure for the first five years and 6.5% per annum of capex for the next five years.

"It is to be noted that pursuant to the Scheme of Arrangement approved by the Hon’ble National Company Law Tribunal, Mumbai, vide order dated February 14, 2025, STL’s Global Services Business has been demerged into STL Networks Limited, effective from the close of business hours on March 31, 2025. Accordingly, the Agreement will be novated in favour of STL Networks Limited upon completion of the necessary formalities," the company said.

In the fourth quarter of the financial year 2024-25, Sterlite Technologies' optical networking business reported a 26% year-on-year (YoY) revenue growth.

The company's consolidated revenue increased 24.7% YoY to ₹1,052 crore in Q4 FY25, while the net loss narrowed to ₹40 crore from an ₹82 crore loss a year back.

"FY25 was marked by resilience and customer-focus. By doubling down on our core priorities—Customer and Cost Leadership—we not only sustained momentum but also laid the groundwork for future growth. The strengthening order pipeline and customer engagements signal a promising shift in market dynamics," said Ankit Agarwal, Managing Director, STL.

"The trifecta of AI-ready infrastructure, rural fibreisation, and data centre expansion will be the cornerstone of global digitalisation, and we’re are fully prepared with our extensive Connectivity solutions," he added.