ITI Ltd. has secured a ₹856.39 crore contract from Bharat Sanchar Nigam Ltd. to expand the state-owned telecom operator's 4G mobile network across western India. According to reports from Essential Business Intelligence, The Economic Times, CNBC TV18, and Business Standard, the order covers planning, engineering, supply, installation, testing and commissioning of a 4G mobile network on a turnkey basis at 7,613 sites in the West Zone. The announcement lifted ITI stock to an intraday high of ₹302.05, with shares surging 6.17% during Thursday's trading session, showing strong market confidence in the company's execution capabilities. The contract represents a significant milestone as ITI works under its 20% reservation quota for public sector enterprises, deploying an indigenous, 5G-ready 4G network stack to reduce reliance on foreign telecom equipment providers.
The latest contract follows ITI's completion of a ₹2,640 crore turnkey project for BSNL's Phase IX.2 rollout across Maharashtra, Goa, Gujarat, Chhattisgarh, Madhya Pradesh and the Mumbai Licensed Service Area. As reported by Essential Business Intelligence, The Economic Times, CNBC TV18, and Business Standard, that project involved deployment of the 4G network across 23,633 sites and covered RF planning, engineering, supply, installation, testing, commissioning, integration and annual maintenance of the 4G network. The new work order covers the expansion of BSNL's 4G network, including saturation sites funded under the Digital Bharat Nidhi programme, with installation and commissioning of equipment at 7,613 additional locations. The project is part of BSNL's indigenous 4G programme aimed at increasing the use of locally developed telecom equipment and achieving self-reliance in the telecom segment to fulfil domestic market needs under the government's Atmanirbhar Bharat initiative.
The contract award comes as ITI demonstrates strong operational recovery, with the company's active order book valued at more than ₹19,000 crore as of August 2025. According to latest financial data, ITI's turnover grew to ₹4,323 crore in FY24-25 from ₹1,588.60 crore in FY22-23, representing an approximately 172% increase. The company had previously reported a net loss of ₹359.85 crore in FY22-23, but has since achieved sustainable profitability. The ₹856.39 crore BSNL contract adds significant near-term revenue visibility, building on ITI's robust order book and reinforcing its role in national digital infrastructure. The company is currently executing BharatNet Phase III projects worth about ₹7,000 crore for BSNL in Himachal Pradesh, West Bengal, Andaman and Nicobar Islands, Arunachal Pradesh, Nagaland and Manipur. ITI recently reported a consolidated net profit of ₹436.10 crore in Q4 FY26, compared with a net loss of ₹4.38 crore in Q4 FY25, with revenue from operations increasing 39.98% year-on-year to ₹627.65 crore for the quarter ended March 31, 2026.
Commenting on the development, Rajesh Rai, Chairman and Managing Director of ITI Ltd, expressed pride in the company's continued trust from BSNL. As reported by CNBC TV18 and Business Standard, Rai stated that "it is a very proud moment for ITI Limited as our prestigious client BSNL continues to repose great trust in ITI Limited's execution capability by awarding work orders to us. ITI Limited has steadfastly been executing and has proved to be an able ally in the country's Atmanirbhar telecom initiatives." The securing of the ₹856.39 crore BSNL order provides strong near-term revenue visibility, expanding ITI's robust ₹19,000 crore order book and reinforcing its role in national digital infrastructure. The contract represents a pivotal milestone for ITI Limited as it shifts from a traditional telecom gear assembler to a key execution partner in India's indigenous telecom rollout, with the model of local manufacturing and consortium-led deployment serving as a strong template for future government procurement in strategic sectors.
