Shares of Tejas Networks rose 6% on Monday after the company received a pre-order worth Rs 696 crore from Bharat Sanchar Nigam Limited (BSNL).

This is the single largest order the company has received to date and will involve the supply, installation and commissioning of over 13,000 TJ1400 series next-generation access and aggregation routers to upgrade BSNL’s pan-India IP-MPLS-based network Access and Aggregation Network (MAANs). The contract is expected to be completed within the next 18 months.

Tejas Networks designs and manufactures high-performance wired and wireless networking products for various entities worldwide. Sanjay Nayak, MD and CEO of Tejas Networks said the partnership with BSNL will create a unified, flexible and scalable IP/MPLS network to meet the growing data traffic within BSNL’s services.

This will also allow the company to deploy its carrier routing products at scale and build world-class capabilities in the routing technology field.

The company also recently announced leadership changes, with Anand Athreya taking over as CEO and MD candidate effective April 3.

In Q3FY23, Tejas Networks reported a consolidated net loss of Rs 10.88 crore compared to Rs 24.30 crore in Q3FY22, while its operating income rose 156.4% to Rs 274.55 crore. EBITDA for the quarter stood at Rs 8.01 crore in Q3FY23 as against an EBITDA loss of Rs 28.3 crore in the corresponding period of the preceding fiscal year.

Shares of Tejas Network have risen about 30% over the past year but have fallen 11% over the past six months.

The stock traded 5.11% higher at Rs 610.45 on the NSE at 10:26 am, while the benchmark nifty was up 0.060% at 17,370.10.