Reliance Jio’s fully-owned subsidiary Reliance Projects will buy Rs 221.95 crore worth of Optical Fiber Cables (OFC) and Point to Point Unlicensed Band Radios (UBRs) from HFCL Limited. The telecom equipment manufacturer HFCL, along with its material subsidiary HTL Limited, will supply the indigenously designed, developed and manufactured 700 MBPs and 1GPBS Point to Point Unlicensed Band Radios (UBRs) to Reliance. “The company, along with its material subsidiary, HTL Limited, has received the Purchase Orders aggregating to ~Rs 221.95 crore, consisting Purchase Orders of ~Rs 179.24 crore from Reliance Projects & Property Management Services Limited for supply of Optical Fiber Cables and of ~Rs 42.71 crore from Reliance Jio Infocomm Limited for supply of indigenously designed, developed and manufactured 700 MBPs and 1GPBS Point to Point Unlicensed Band Radios,” HFCL said in a regulatory filing.
Earlier last month, Reliance Jio’s fully-owned subsidiary Reliance Projects had announced that it will buy Rs 123.84 crore worth of optical fibre cables from HFCL Limited. The time period by which the order is to be executed is October 2023.
HFCL is betting big on demand for 5G led equipment. The company, during the India Mobile Congress last year, had said that it is expecting a 15-20 per cent on-year revenue growth that will be driven by the growing demand for OFC and production of 5G led equipment.
Furthermore, as of January 2023, Reliance Jio has cornered 50 per cent of the market share in terms of the overall broadband. In its fiscal third quarter presentation, the company maintained that JioFiber continues to lead the industry in terms of net subscriber additions.