RailTel bags ₹13.6 crore Thane civic tech contract after ₹27 crore Goa order

State-owned telecom infrastructure provider RailTel Corporation of India Ltd. has secured a Letter of Intent (LoI) from the Thane Municipal Corporation for a project valued at ₹13.6 crore, including taxes, the company said in an exchange filing on Tuesday, June 30.

Under the contract, RailTel will serve as the technology partner for the development, upgradation, implementation, operation and maintenance of the DigiThane Citizen Engagement Platform for a period of 10 years.

The contract, awarded by a domestic entity, covers 10 years and is scheduled to run until June 28, 2036.

RailTel said neither its promoters nor promoter group companies have any interest in the awarding authority, and the transaction does not qualify as a related-party deal.

The latest order comes a day after RailTel announced that it had secured a ₹27.06 crore work order, including taxes, from the Goa Labour Welfare Board for the development of an exclusive end-to-end online portal. The project is scheduled to be completed by August 23, 2026.

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Last month, RailTel reported its fourth quarter results with a 25% year-on-year increase in consolidated net profit to ₹142 crore for the fourth quarter of FY26, aided by strong growth in revenue. Revenue rose 28% to ₹1,669 crore, while EBITDA increased 30% to ₹233 crore, with the EBITDA margin remaining steady at 14%.

The company's board also recommended a final dividend of ₹1.25 per share for FY26, in addition to the interim dividend of ₹2 per share already paid during the financial year.

RailTel shares gained around 1.13% to trade at ₹309.65 on Tuesday, June 30, after the company announced the fresh order. The stock has fallen nearly 17% so far this year.

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