Shares of India’s first post-independence PSU rose up to 4% after ITI Limited, a leading telecom manufacturer, secured contracts worth Rs 88 crore in Odisha and Chhattisgarh for CCTV systems, GIS mapping, and IT infrastructure upgrades.
With a market capitalization of Rs 31,166 Crores, the share price of ITI Limited was trading almost 4% up to hit an intraday high of Rs 336.00 per share from its day low price of Rs 323.25 per share.
ITI Limited, in its exchange filing, announced that it has secured multiple contracts worth Rs 88 crore across Odisha and Chhattisgarh, strengthening its order book and expanding its footprint in public sector infrastructure projects.
The company received a Rs 54 crore contract from Cuttack Development Authority for installing CCTV surveillance and traffic signal systems, along with a Rs 23.05 crore GIS-based Land Intelligence Management System order.
Additionally, it bagged an Rs 11.72 crore contract from Chhattisgarh’s CHiPS to upgrade WLAN/LAN infrastructure at Mantralaya and HoD Bhawan at Nava Raipur in Chhattisgarh.
Mr. Rajesh Rai, Chairman and Managing Director, ITI Limited, said “We are very glad to bag these new contracts from Governments of Odisha and Chhattisgarh, where we will be involved in aiding the state Governments in strengthening their digital infrastructure for providing efficient citizen services.
With immense pride, I would like to state that ITI Limited is now seen as a reliable partner by the state Governments to provide the whole spectrum of Information and Communications Technology (ICT) services to strengthen their e-governance initiatives.”
Our team is very excited and highly motivated to work on these contracts as always, and I am confident that we will deliver them ahead of time. We hope that our work will help the state Governments in providing best-in-class e-governance services.”
ITI Limited is a government-owned telecom technology company established in 1948. It has manufacturing units in Bengaluru, Naini, Rae Bareli, Mankapur, and Palakkad, along with an R&D centre in Bengaluru and marketing offices across major Indian cities.
The company makes a wide range of telecom and defense products such as optical networks, encryption devices, smart energy meters, and Wi-Fi equipment. ITI also handles turnkey telecom projects and is expanding into areas like IoT, smart cities, and cloud services through its Bengaluru data center.
The company reported a revenue of Rs 3,616 crore in FY25, up by 186 percent from its FY24 revenue of Rs 1,264 crore. Coming to its profitability, the company narrowed its net loss by 62% to Rs 215 crores in FY25 from Rs 569 Crores In FY24.
Written By Rohan Pandey
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