Meet the person got an order of Rs 3000 crore from BSNL!
Inder Jaisinghani is one of the well-known personalities of the business world. He is the chairman and director of Polycab india, a leading company in india in the field of cable and wire manufacturing. The company said in an exchange filing on thursday, march 13, that the company has received an order of about Rs 3,003 crore from bsnl for Bharat Net in bihar Telecom Circle.
This is how the company was started
The market cap of Polycab india is currently Rs 10,000 and on thursday the company's share closed at Rs 5,000. Let us tell you that Jaisinghani started the company in 1986 as a trading firm. In 2014, Polycab also started manufacturing products like electric fans, LED lighting, switches and switchgear.
This is Jaisinghani's net worth
According to Forbes, Jaisinghani currently has assets worth Rs 13918 crore. 71-year-old Jaisinghani is currently ranked 2059th in the list of world's billionaires. He was appointed chairman and director of Polycab on 20 december 1997. After this, he was again appointed to the same post on 28 august 2019. His company went public in 2019. Due to increasing electrification and increased spending in the power sector, the company's shares rose from 2022. In 2008, international Finance Corporation (IFC), a unit of the World bank Group, bought its stake in the company.
BSNL's contract with Polycab
This project has a construction period of three years. This will be followed by a 10-year maintenance contract. The maintenance cost will be 5.5 percent of the capital expenditure per year for the first five years, while for the subsequent five years, this amount has been fixed at 6.5 percent per year. This contract includes capital expenditure of Rs 1,549.66 crore, operating expenditure of Rs 929.79 crore and operating expenditure of Rs 523.53 crore for the existing network, thus the total cost will be Rs 3002.99 crore.
click and follow Indiaherald WhatsApp channel