Tejas Networks Receives Rs. 7,492 Cr Purchase Order From TCS For BSNL's Pan-India 4G/5G Network

Tata Group's Tejas Networks Ltd., a telecommunication company that designs and manufactures wireless networking products, on Wednesday, Aug 16, said that it has received a purchase order worth Rs 7,492 Crore for equipment from Tata Consultancy Services Ltd. (TCS), a Tata Group's IT sector company.

According to Tejas Networks, it has signed a master agreement with TCS for the delivery, support, and yearly maintenance of its Radio Access Network (RAN) equipment for BSNL's nationwide 4G/5G network in India.

"Tejas Networks Limited [BSE: 540595, NSE: TEJASNET] (the "Company") today announced that it has executed a Master Contract for supply, support and annual maintenance services of its Radio Access Network (the "RAN") equipment for BSNL's Pan-India 4G/5G network, with Tata Consultancy Services Limited (the "TCS") [BSE: 532540, NSE: TCS]," the company said in a press release.

It added, "As a part of this contract, the Company received a Purchase Order from TCS for Rs 7,492 crore (approx. USD 900 million) to supply its latest 4G/5G RAN equipment for approximately 100,000 sites, which will be executed during the calendar years 2023 and 2024. The company won this order after successfully completing extensive trials as part of a consortium led by TCS."

Following the announcement, the shares of Tejas Network jumped 6.62%, hitting an intraday high of Rs 869 per share on BSE. The stock is currently trading at Rs 849.50 per share, up 4.23%, with an intraday low of Rs 842.45 at the time of writing. The stock surged 3.56% in 1 week, and 76.10% in 1 year, respectively.

Mr. Anand Athreya, CEO and Managing Director of Tejas Networks said, "We are delighted to be selected as the sole supplier of 4G/5G RAN equipment for one of the largest mobile networks in the world. Our cutting-edge portfolio of baseband and radio products will enable BSNL to roll out a scalable and costeffective network that meets world-class performance and quality standards. This also furthers our mission to create India's first global-scale telecom and networking products company with an end-to-end suite of wireless and wireline offerings."

Mr. Arnob Roy, COO and Executive Director of Tejas Networks said, "We are proud to be a member of the TCS consortium that has put the country on the world map in a highly competitive, deep-technology segment. We are committed to collaborating with our consortium partners to ensure a best-in-class service experience for BSNL subscribers, both consumers and businesses, around the country."

Dr. Kumar N. Sivarajan, CTO of Tejas Networks said, "Our state-of-the-art 4G/5G RAN products were subjected to rigorous field testing by BSNL for nearly eighteen months before being chosen for this largescale commercial deployment. This win is a true testament to the engineering excellence and innovation prowess of our R&D team that successfully developed and delivered an industry-leading product in a complex technology area in record time."