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Enterprise telecom pricing pressure
View Risks →Railtel Corp Of India Ltd — Q4 FY26
Railtel delivered a strong Q4 FY26 with operating revenue of ₹1,669 crore (QoQ growth of 83%) and PAT of ₹142 crore (QoQ growth of 127%).
bullish
high
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Railtel delivered a strong Q4 FY26 with operating revenue of ₹1,669 crore (QoQ growth of 83%) and PAT of ₹142 crore (QoQ growth of 127%). The telecom segment contributed ₹449 crore, driven by recurring revenue from a video surveillance project and growth in data center revenue (₹202 crore for FY26 vs ₹127 crore last year). The order book surged to ₹11,466 crore (up 34% in Q4), with only 21% from railways. Management guided for ~20% revenue growth in FY27, with project revenue conversion of ₹3,000-3,500 crore and planned capex of ₹300 crore focused on data centers. Risks include potential margin pressure in telecom from enterprise pricing and slower-than-expected edge data center adoption.
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Order Book
₹11,466 Cr
+34% QoQ
Order book as on 31st March 2026, up from ₹8,563 crore as on 31st December 2025.
Data Center Revenue (FY26)
₹202 Cr
+59% YoY
Data center revenue grew from ₹127 crore in FY25, driven by government and PSU customers.
Telecom Segment Revenue (Q4)
₹449 Cr
+25% YoY
Includes pure telecom (₹334 cr), data center, and digital services like Aadhaar authentication.
Data Center Capacity (FY27 target)
5 MW
+2 MW YoY
Capacity expected to reach 5 MW by May 2027, up from 3 MW currently.
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Guidance and risk preview
Management expects revenue growth of around 20% for FY27, with project revenue conversion of ₹3,000-3,500 crore.
Management noted continuous price declines in the enterprise telecom segment, which could pressure telecom margins.
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