Shares of RailTel Corporation of India surged nearly 10% on Tuesday to the day’s high of Rs 449 on the BSE after receiving a work order from the Maharashtra Housing and Area Development Authority (MHADA) for projects amounting to Rs 79.84 crore.

“This is to inform that RailTel Corporation of India Ltd. (“the Company”) has received the work order from Maharashtra Housing And Area Development Authority for Other Project amounting to Rs. 79,84,01,751 (Including Tax),” according to the press release.

The contract is for the selection of a service provider (Cloud Hosting and Managed Services) to set up, migrate, and manage the Data Centre (DC) and Disaster Recovery (DR) site for MHADA on the Cloud.

The order is to be executed by January 15, 2025 and is based solely in India.

In the last two years, shares of RailTel Corporation of India have increased by nearly 300%, and over the last three years, they have surged by 230%.

RailTel Corporation of India received its last order from the Rural Development Department worth Rs 155 crore. This work order, from the Rural Development Department, Mantralaya, Maharashtra, is for the operationalization of the ASSK-GP project in the Konkan, Pune, and Nashik regions, and is expected to be executed by September 25, 2025.The Mini Ratna company reported a net profit of Rs 49 crore for the quarter ended June 2024, up from Rs 38 crore in the year-ago period, marking an uptick of 27% on a year-on-year (YoY) basis. However, on a sequential basis, this represents a 37% decline from the Rs 77 crore reported in Q4 FY24.Revenue from operations for the quarter stood at Rs 558 crore, a 19% increase compared to Rs 468 crore in the corresponding quarter of the previous financial year. However, this revenue was down by 33% quarter-on-quarter (QoQ) from Rs 833 crore in the January-March quarter of FY24.

The company reported telecom services revenue of Rs 328 crore, up from Rs 292 crore in the year-ago period. For project work services, revenue was Rs 230 crore in Q1 FY25, compared to Rs 176 crore in the same period last year.

The profit before tax and interest (PBIT) from telecom services stood at Rs 66 crore in the reported quarter, compared to Rs 51 crore in the same quarter of the previous financial year. For project services, PBIT was Rs 10 crore in Q1 FY25, down from Rs 12 crore in the year-ago period.