Key Takeaways from BharatNet Phase III Bids:

• HFCL, along with its consortium partners RVNL and Aerial Telecom Solutions, has secured contracts worth over Rs 8100 crores for BharatNet Phase III projects.  
• The consortium has been awarded a Rs 6,925 crore contract to provide middle-mile network infrastructure in Uttar Pradesh (East) and West.  
• HFCL has also emerged as the top bidder for the Punjab circle, winning a Rs 1,244 crore contract on its own.  
• The BharatNet Phase III initiative will connect over 250,000 gram panchayats across India, improving rural broadband and enabling e-health, e-education, and e-governance services.

The consortium has been awarded a Rs 6,925 crore contract to provide middle-mile network infrastructure in Uttar Pradesh (East) and Uttar Pradesh (West). 

In addition, HFCL has emerged as the top bidder for the Punjab circle, securing a Rs 1,244 crore contract for the BharatNet Phase III programme on a standalone basis. The company is also set to receive Operation and Maintenance (O&M) orders worth approximately Rs 4,155 crore for Uttar Pradesh and Rs 746 crore for Punjab after the networks are commissioned.

The BharatNet project, part of the Government of India's ‘Digital India’ initiative, aims to provide high-speed broadband connectivity to rural and underserved areas across the country. 

The BharatNet Phase III programme will connect over 250,000 gram panchayats across India, enabling services such as e-health, e-education, and e-governance, and paving the way for new opportunities in rural broadband infrastructure.

About HFCL Limited:

HFCL is a leading technology company that specialises in building digital networks for telecommunications, enterprises, and governments. With decades of expertise in fibre optics and strong R&D capabilities, HFCL offers innovative, high-tech solutions. The company has in-house R&D centres in Gurgaon, Bengaluru, and Hyderabad, along with global collaborations, enabling it to develop cutting-edge products. HFCL manufactures premium optical fibre cables, 5G solutions, Wi-Fi systems, and telecom equipment. With plants in Hyderabad, Goa, Chennai, and Manesar, HFCL supports India’s ‘Make in India’ initiative and serves customers across India, Europe, the Middle East, and the USA.

About Rail Vikas Nigam Limited:

Rail Vikas Nigam Limited (RVNL) is a public sector undertaking established to enhance the infrastructure of Indian Railways. Since its formation, RVNL has completed over 150 railway projects and expanded its scope to include various infrastructure projects both domestically and internationally. Its primary objectives are to fast-track project execution, mobilise financial resources, and maintain high technical standards while ensuring cost-effective operations. RVNL is also involved in creating Special Purpose Vehicles (SPVs) for specific projects and is responsible for their commercialisation. Additionally, it operates on a Build-Operate-Transfer (BOT) model, generating revenue through access charges paid by the Ministry of Railways.

About Aerial Telecom Solutions Private Limited:

Founded in 2010 and headquartered in Mohali, Aerial Telecom Solutions Private Limited aims to be a global leader in the telecom, IT, ITes, and banking sectors. The company has consistently achieved annual growth in revenue and profitability by prioritising customer satisfaction and fostering long-term client relationships. Over the past decade, Aerial Telecom has established itself as a trusted telecom solutions provider and is now expanding into resource management and IT services. The company is ISO 9001:2019 and OHSAS 18001:2019 certified and was honoured with the ‘Customer Obsession Award - 2019’ by CII

Key Takeaways from LTTS Acquisition:

• L&T Technology Services (LTTS) to acquire 100% of Intelliswift Software (India) and Intelliswift Software Inc. (USA) for USD 110 million.
• The transaction is expected to be completed by 28th February 2025, subject to customary closing conditions.
• The acquisition will enhance LTTS' software product development, platform engineering, and AI capabilities, expanding its Digital Engineering offerings.
• The deal will be fully cash-funded, and upon completion, Intelliswift will become a wholly-owned subsidiary of LTTS.

The transaction is subject to customary closing conditions and is expected to be completed by 28th February 2025.

The acquisition will enhance LTTS' capabilities in software product development, platform engineering, and artificial intelligence (AI), boosting its Digital Engineering offerings for global clients. 

The acquisition also adds Intelliswift's AI-led automation framework to LTTS' portfolio, strengthening its capabilities in data, platform engineering, and digital enterprise services.

The deal will be entirely funded in cash, and upon completion, Intelliswift Software will become a wholly-owned subsidiary of LTTS.

About L&T Technology Services Limited:

L&T Technology Services (LTTS) is a global leader in engineering and technology services, with operations in over 25 countries and annual revenue surpassing USD 1.2 billion. Originally part of Larsen & Toubro’s engineering legacy, LTTS combines deep engineering expertise with advanced technology to deliver innovative solutions across various industries. With a team of 23,700 engineers, LTTS is committed to solving complex challenges with agility, sustainability, and innovation. The company’s vision is to engineer the change the world needs, helping clients stay ahead in a rapidly evolving, technology-driven landscape while focusing on socially and environmentally responsible solutions.

About Intelliswift Software (India) Private Limited:

Intelliswift is a leading global technology provider specialising in digital transformation. The company offers cutting-edge solutions in Digital Product Engineering, Data & AI, and Digital Enterprise, catering to industries such as Fintech, MedTech, Manufacturing, Retail, Energy & Utilities, and Platform & Technology. With a team of skilled professionals, Intelliswift helps businesses grow by combining advanced technology with deep industry expertise. The company's mission is to create long-lasting impact through innovation, while its core values of transparency, integrity, respect, and passion drive its success. Intelliswift works with Fortune 500 companies and has a global presence across multiple locations.

Key Takeaways from LTTS Acquisition:

• L&T Technology Services (LTTS) to acquire 100% of Intelliswift Software (India) and Intelliswift Software Inc. (USA) for USD 110 million.
• The transaction is expected to be completed by 28th February 2025, subject to customary closing conditions.
• The acquisition will enhance LTTS' software product development, platform engineering, and AI capabilities, expanding its Digital Engineering offerings.
• The deal will be fully cash-funded, and upon completion, Intelliswift will become a wholly-owned subsidiary of LTTS.

The transaction is subject to customary closing conditions and is expected to be completed by 28th February 2025.

The acquisition will enhance LTTS' capabilities in software product development, platform engineering, and artificial intelligence (AI), boosting its Digital Engineering offerings for global clients. 

The acquisition also adds Intelliswift's AI-led automation framework to LTTS' portfolio, strengthening its capabilities in data, platform engineering, and digital enterprise services.

The deal will be entirely funded in cash, and upon completion, Intelliswift Software will become a wholly-owned subsidiary of LTTS.

About L&T Technology Services Limited:

L&T Technology Services (LTTS) is a global leader in engineering and technology services, with operations in over 25 countries and annual revenue surpassing USD 1.2 billion. Originally part of Larsen & Toubro’s engineering legacy, LTTS combines deep engineering expertise with advanced technology to deliver innovative solutions across various industries. With a team of 23,700 engineers, LTTS is committed to solving complex challenges with agility, sustainability, and innovation. The company’s vision is to engineer the change the world needs, helping clients stay ahead in a rapidly evolving, technology-driven landscape while focusing on socially and environmentally responsible solutions.

About Intelliswift Software (India) Private Limited:

Intelliswift is a leading global technology provider specialising in digital transformation. The company offers cutting-edge solutions in Digital Product Engineering, Data & AI, and Digital Enterprise, catering to industries such as Fintech, MedTech, Manufacturing, Retail, Energy & Utilities, and Platform & Technology. With a team of skilled professionals, Intelliswift helps businesses grow by combining advanced technology with deep industry expertise. The company's mission is to create long-lasting impact through innovation, while its core values of transparency, integrity, respect, and passion drive its success. Intelliswift works with Fortune 500 companies and has a global presence across multiple locations.

Key Takeaways from BharatNet Phase III Bids:

• HFCL, along with its consortium partners RVNL and Aerial Telecom Solutions, has secured contracts worth over Rs 8100 crores for BharatNet Phase III projects.  
• The consortium has been awarded a Rs 6,925 crore contract to provide middle-mile network infrastructure in Uttar Pradesh (East) and West.  
• HFCL has also emerged as the top bidder for the Punjab circle, winning a Rs 1,244 crore contract on its own.  
• The BharatNet Phase III initiative will connect over 250,000 gram panchayats across India, improving rural broadband and enabling e-health, e-education, and e-governance services.

The consortium has been awarded a Rs 6,925 crore contract to provide middle-mile network infrastructure in Uttar Pradesh (East) and Uttar Pradesh (West). 

In addition, HFCL has emerged as the top bidder for the Punjab circle, securing a Rs 1,244 crore contract for the BharatNet Phase III programme on a standalone basis. The company is also set to receive Operation and Maintenance (O&M) orders worth approximately Rs 4,155 crore for Uttar Pradesh and Rs 746 crore for Punjab after the networks are commissioned.

The BharatNet project, part of the Government of India's ‘Digital India’ initiative, aims to provide high-speed broadband connectivity to rural and underserved areas across the country. 

The BharatNet Phase III programme will connect over 250,000 gram panchayats across India, enabling services such as e-health, e-education, and e-governance, and paving the way for new opportunities in rural broadband infrastructure.

About HFCL Limited:

HFCL is a leading technology company that specialises in building digital networks for telecommunications, enterprises, and governments. With decades of expertise in fibre optics and strong R&D capabilities, HFCL offers innovative, high-tech solutions. The company has in-house R&D centres in Gurgaon, Bengaluru, and Hyderabad, along with global collaborations, enabling it to develop cutting-edge products. HFCL manufactures premium optical fibre cables, 5G solutions, Wi-Fi systems, and telecom equipment. With plants in Hyderabad, Goa, Chennai, and Manesar, HFCL supports India’s ‘Make in India’ initiative and serves customers across India, Europe, the Middle East, and the USA.

About Rail Vikas Nigam Limited:

Rail Vikas Nigam Limited (RVNL) is a public sector undertaking established to enhance the infrastructure of Indian Railways. Since its formation, RVNL has completed over 150 railway projects and expanded its scope to include various infrastructure projects both domestically and internationally. Its primary objectives are to fast-track project execution, mobilise financial resources, and maintain high technical standards while ensuring cost-effective operations. RVNL is also involved in creating Special Purpose Vehicles (SPVs) for specific projects and is responsible for their commercialisation. Additionally, it operates on a Build-Operate-Transfer (BOT) model, generating revenue through access charges paid by the Ministry of Railways.

About Aerial Telecom Solutions Private Limited:

Founded in 2010 and headquartered in Mohali, Aerial Telecom Solutions Private Limited aims to be a global leader in the telecom, IT, ITes, and banking sectors. The company has consistently achieved annual growth in revenue and profitability by prioritising customer satisfaction and fostering long-term client relationships. Over the past decade, Aerial Telecom has established itself as a trusted telecom solutions provider and is now expanding into resource management and IT services. The company is ISO 9001:2019 and OHSAS 18001:2019 certified and was honoured with the ‘Customer Obsession Award - 2019’ by CII