Sterlite Tech bags Rs 1,500 crore new order bookings

ANI
19 Feb 2020, 19:07 GMT+10

Pune (Maharashtra) [India], Feb 19 (ANI): Data networks innovator Sterlite Technologies Ltd said on Wednesday it has added new orders of Rs 1,500 crore ranging from continued business development in its core areas of optical connectivity solutions and network services to emerging areas like software virtualisation.

In early 2020, network creation capital expenditure has been accelerated by major European, Middle East, Africa and Southeast Asian network creators.

"As STL has strategically invested in these markets it has disproportionately benefited by this acceleration, driving over 65 per cent of connectivity revenues from these international geographies," it said in a statement.

The trend towards fiberising each household in Europe has been driving up demand for high-end and easy to deploy optical fibre. STL's proprietary bend-handling fibres and micromodule compact diameter cables that lead to 30 per cent faster deployment have benefited by this trend of fast deployment.

"In India, the rural broadband projects are moving to the next phase of digital infrastructure buildout in leading states like Telangana, Maharashtra and Madhya Pradesh. This is coming after a year of relatively slow growth in data network infrastructure buildout."More states are expected to accelerate their plans, especially given the enhanced budget outlay of Rs 6,000 crore for BharatNet, said STL. (ANI)

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