Tejas Networks lands ₹1,537 crore order for BSNL 4G expansion

A delayed expansion moves toward execution

Tejas Networks said it received an August 27 letter of intent from Tata Consultancy Services covering radio access network equipment, accessories and installation materials for 18,685 BSNL 4G sites. The contract is valued at ₹1,537 crore, while a detailed purchase order will follow in due course.telecom +1 Shares had closed Thursday at ₹511.15, up 1.21%, before the latest order became a focus for Friday trading.scanx

The equipment supports an add-on deployment that BSNL awarded to TCS in May 2025. That broader ₹2,903.22 crore package makes TCS responsible for planning, engineering, supply, installation, testing, commissioning and annual maintenance at the new sites.economictimes Tejas had previously estimated its portion of the expansion at about ₹1,525.53 crore before taxes.telecom

The order materially improves revenue visibility

The award is slightly larger than Tejas Networks’ entire ₹1,529 crore order book at the end of the June quarter. That backlog was heavily concentrated at home, with India accounting for 93% and international business for 7%.upstox The new work therefore restores scale after a pause between phases of BSNL’s rollout, but also reinforces the company’s dependence on one domestic program.

The financial backdrop makes execution consequential. Tejas reported a ₹202 crore net loss for the June quarter even as revenue nearly doubled from a year earlier to ₹402 crore. Its EBITDA loss narrowed to ₹100 crore from ₹136 crore, while net debt stood at ₹4,277 crore.upstox Turning the letter of intent into a final order, shipments and collections will determine how quickly the headline value reaches the income statement and cash flow.

Indigenous 4G gains another leg

TCS, Tejas and the government’s Centre for Development of Telematics have already commissioned nearly 100,000 sites using an Indian-built network stack.telecom The project is intended to reduce BSNL’s reliance on multinational equipment vendors including Ericsson, Nokia and Huawei.economictimes Adding 18,685 locations extends that industrial-policy objective while giving the state-owned carrier more capacity on infrastructure designed to be upgradeable to 5G.

The immediate upside is a fresh block of work roughly equal to the company’s existing backlog. The constraints are equally clear: the document announced so far is a letter of intent, the purchase order is pending, and Tejas remains loss-making and leveraged.telecom +1 The award strengthens near-term visibility, but delivery pace, margins and payment timing will decide whether it produces a durable turnaround rather than another burst of project-led revenue.