RailTel bags major order from CDAC worth Rs 36 crore

by Psu Connect
Date: 23-03-24

The order has been provided by the Centre For Development Of Advanced Computing with Significant terms and conditions listed in brief.

RailTel bags major order from CDAC worth Rs 36 crore

RailTel Corporation of India Ltd. has received the work order from the Centre For Development Of Advanced Computing for VMWare virtualization licenses with 3 years of support amounting to Rs. 36 crores including Tax.

The order has been provided by the Centre For Development Of Advanced Computing with Significant terms and conditions listed in brief.

The contract dealing has been calculated in installment phases that include Performance security of 5% of contract value with validity of 42 Mon, Payment of 65% of Total Order value on supply of licenses, 25% on successful completion, and 10% of Payment after overall acceptance.

The Nature of the order is VMWare virtualization licenses with 3 years of support and the required time duration for the project to be executed is 19 July 2024. The estimated cost of the project is Rs 36 crore.

The shares of RailTel are trading in the green zone at Rs 359.55 up by 0.42%. The estimated market capitalization is around Rs 11.56T crore. The PSU sector provides broadband and VPN services.