The contract is scheduled to be executed by May 2026. HFCL clarified that none of its promoters or promoter group entities have any interest in the awarding authority. The company further stated that the transaction does not qualify as a related-party contract under applicable regulatory norms.

HFCL is a diversified telecom infrastructure enabler with businesses spanning telecom infrastructure development, system integration, and the manufacture and supply of high-end telecom equipment, optical fiber, and optical fiber cables (OFC).

The company reported a 41.04% jump in consolidated profit to Rs 102.37 crore on a 19.65% increase in revenue from operations to Rs 1,210.79 crore in Q3 FY26 as compared with Q3 FY25.