Steelman Telecom hit an upper circuit of 20% at Rs 154.80 after the company received a work orders worth of Rs 147 crores from Reliance Projects & Property Management Services (Jio) for maintenance of specific wireless communication networks.
Under the terms of the contract, the company will provide a frontend, backend, and supervisor team to maintain indoor small cell networks, as well as both indoor and outdoor WiFi Enterprise UBR sites. The scope of work and specific instructions will be directed by the Engineer-In-Charge (EIC) team.The team will consist of diploma engineers cum riggers and will be provided with necessary tools and equipment, including conveyance, tools and tackles, mobile usage, and personal protective equipment (PPE), as per the requirements of the contract.
The said project is valued at Rs 147 crore and will be executed within a period of three years.
Steelman Telecom offers support services and solutions to address the network requirements of the telecom industry. The company offers network survey and planning, installation and commissioning, network testing and optimization and managed services for network maintenance. Steelman Telecom serves customers in India.
On a full-year basis, the company's standalone net profit increased 31.5% to Rs 7.43 crore on 43.9% jump in revenue from operations to Rs 189.39 crore in FY24 over FY23.
As of 04 December 2024, the companys market capitalization stood at Rs 149.79 crore on the BSE.
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