Sterlite Technologies Limited (STL) has officially announced that one of its subsidiaries has received a Product Award Letter (PAL) from a hyperscale partner for the multi-year supply of optical connectivity products. This strategic agreement aims to support the build-out of AI-ready data center infrastructure, specifically in the United States.

The contract is valued at approximately USD 1.11 billion, with the supply of optical connectivity products scheduled to take place over the financial years from FY27 to FY29, with execution expected by March 2029. The agreement incorporates a reciprocal risk-sharing framework that defines mutual, capped financial liabilities for both parties in the event of demand shortfalls or supply capacity shortages. This deal is a significant development for STL, as it aims to provide the connectivity backbone for AI data centers and reinforces its position as an integrated provider of optical fiber and connectivity solutions.

Headquartered in Pune, India, STL is a global technology company specializing in optical and digital connectivity solutions, including optical fiber, optical fiber cables (OFC), and data center networks. The company operates a “Glass-to-Gigabit” business model, which integrates material science, product engineering, and network services. Throughout 2025, the company focused on strengthening its technology leadership and expanding its product portfolio, notably launching the ‘Neuralis’ AI Data Center portfolio in the US and completing trials for Multi-Core Fibre (MCF). STL has been recognized for its innovation, receiving multiple accolades in 2025, including awards for its sustainable infrastructure solutions and the “Most Impactful IoT Solution of the Year”.

Regarding financial performance, the company has seen a recovery in FY26 following a challenging FY25. For the fiscal year ending in 2026, the company reported revenue of ₹2,625 Crores, representing an 11.80% year-on-year increase, with a net profit of ₹2 Crores. In terms of shareholding, STL attracts interest from various institutional investors, including Conclave PTC Limited, which holds a significant 42.90% stake, alongside investments from entities such as Bandhan AMC Limited and HDFC Asset Management Company.