India's Top Optical Fiber Giant Wins Rs 2,600 Crore Project in J&K
A Rs 2,600 Crore Project to Bring High-Speed Internet to Every Corner of Jammu & Kashmir!
Sterlite Technologies Ltd a company known for its optical and digital solutions, has won the BharatNet III project in Jammu & Kashmir. The project, worth Rs 2,600 crore, is in partnership with Dilip Buildcon Limited. It will bring high-speed broadband to remote parts of the region, aligning with STL’s vision of transforming lives through connectivity.
Fast Fibre Deployment Using Technology
STL’s approach to fibre deployment uses advanced technology, including drones, GIS mapping, and AI-based network design. This method has been shown to speed up deployment by 26 per cent while reducing fibre cuts by almost four times compared to traditional methods. The goal is to provide fast, reliable internet to underserved villages in Jammu & Kashmir through an efficient and high-quality network.
Proven Success in Complex Projects
STL has a solid track record in executing complex projects. The company previously worked on the Network for Spectrum (NFS) project, creating a secure, 10,000-kilometre-long network for the Indian Armed Forces. Through BharatNet, STL aims to support rural development by bringing digital access to areas that could benefit in sectors like education, healthcare, and local business.
Previous Successes in BharatNet Phases
STL has contributed to earlier BharatNet phases, completing projects like Mahanet in Maharashtra and T-Fibre in Telangana. With over 1,50,000 kilometres of fibre laid across India, STL has proven itself as a trusted player in large-scale network projects.
CEO’s Statement on the Project
Praveen Cherian, CEO of STL’s Global Services Business, expressed pride in the project, saying, “This project is not just about laying fibre; it’s about transforming lives. Our Fibre Automation Solution makes deployment faster and ensures high-quality networks. This is the STL advantage we are bringing to BharatNet in Jammu & Kashmir.”
Q2 FY25 Financial Performance
For Q2 FY25, STL posted a consolidated revenue of Rs 1,413 crore, with an EBITDA margin of 10.7 per cent . Net after-tax losses were reduced to Rs 13 crore, indicating improvement in its financial performance. STL’s net debt is at Rs 2,169 crore. The order book increased to approximately Rs 10,200 crore in Q4 FY24, up from Rs 9,800 crore in Q3 FY24, showing healthy demand for STL’s offerings.
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Update on Demerger
STL is progressing with the demerger of its services business. The company has received approvals from shareholders and creditors, which will allow it to focus more on its core areas of growth.