HFCL Limited will Supply OFC Worth INR 128.34 Crores to Reliance Jio

Reliance Jio’s subsidiary has contracted with HFCL Limited, and its subsidiary, to deliver OFC equipment worth INR 123.84 crores.

April 12, 2023

Reliance Projects & Property Management Services Limited, a subsidiary of Reliance Jio, has contracted with HFCL Limited and its material subsidiary, HTL Limited, to buy OFC worth INR 123.84 crores. The purchase order is expected to be completed by October 2023.

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Mr. Mahendra Nahata, MD of HFCL Limited, shared in a 2022 interview, that company’s revenue will increase at the rate of 15-20 percent per annum, with OFC and telecom being major contributors.

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Meanwhile, Reliance Jio’s broadband market share is nearly 50 percent as of 2023. In 2022, during Reliance Industries Limited’s AGM, Mr. Mukesh Ambani, Chairman & MD of RIL, shared that Jio’s fibre-optic network spans over 11 lakh kilometers, equivalent to 27 times of Earth’s circumference. He also claimed JioFiber as India’s top FTTX service provider.