Railtel Corp Of India Ltd — Q4 FY26

Railtel Corporation of India Ltd Q4 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=T0f3COTD3Z8 Published: 12 days ago

0:01 1 second Ladies and gentlemen, good day and welcome to the Qur FY26 earnings conference call of Rail Corporation of 0:09 9 seconds India Limited hosted by PL Capital. As a reminder, all firepin lines will be in the listenon mode and there will be an 0:17 17 seconds opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an 0:24 24 seconds operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. 0:32 32 seconds I now hand the conference over to Mr. 0:34 34 seconds Vishal Perial from PL Capital. Thank you and over to you Mr. Peral. 0:41 41 seconds Uh yeah, thanks uh mission. Uh we are pleased to welcome the management of Rail Corporation of India Limited to 0:48 48 seconds discuss their quarter 4 result and also would convey our thanks to Rail Management as well as participant uh to 0:55 55 seconds be uh to to attend this call uh on on uh on a holiday and uh uh so uh joining us 1:03 1 minute, 3 seconds today from the real leadership team is uh Mr. Sanjay Kumar who is chairman and managing director uh Mr. Vid Rama Manoha 1:12 1 minute, 12 seconds director finance Mr. Manoj Standan director projects operation and maintenance Mr. Yeshal Singh Tomar director network planning and marketing 1:20 1 minute, 20 seconds and along uh with Tomar sir is uh Mr. 1:26 1 minute, 26 seconds Batra gi who is the ad and then thank you gentlemen for joining us today and I'll now hand over the call 1:34 1 minute, 34 seconds to Sanjay sir for his opening remark and post that we'll have a Q&A. Yeah thank you and over to you sir. 1:44 1 minute, 44 seconds A very good morning to all. It gives me immense pleasure to interact with you on the company's performance in the 1:52 1 minute, 52 seconds backdrop of Q4 financial results for FY26 as well as audited financial results for 2:01 2 minutes, 1 second FY2526 which were declared by the company on 30th April 2026. 2:09 2 minutes, 9 seconds The company achieved operating revenue of rupees 1,669 crores in Q4 of FY26 2:18 2 minutes, 18 seconds as against rupees 913 crores in Q3 of FY26 registering the Q1 Q growth of 83%. 2:29 2 minutes, 29 seconds The telecom segment contributed rups 449 crores and project segment contributed rupees 1,220 2:38 2 minutes, 38 seconds uh crores in company's operating turnover. 2:42 2 minutes, 42 seconds As regards the total revenue, the Q1 Q growth is 82% with 1,6 2:50 2 minutes, 50 seconds 1,680 crores in Q4 of FY26 as compared to rupees 924 crores in Q3 Q3 of FY26. 3:02 3 minutes, 2 seconds The profit before tax in Q4 of FY26 is rupees 190 crores as 3:09 3 minutes, 9 seconds against rupees 85 crores in Q3 of FY26 with Q on Q growth of 123%. 3:17 3 minutes, 17 seconds The profit after tax in Q4 of FY26 is rupees 142 crores as against rupees 62 3:26 3 minutes, 26 seconds crores in Q3 of FY26 registering a Q1 Q growth of 127%. 3:34 3 minutes, 34 seconds The company achieved total income of rupes 4,328 crores in FY26 against rupees 3,551 3:44 3 minutes, 44 seconds crores during the corresponding previous year with a growth of 22%. 3:50 3 minutes, 50 seconds Profit after tax for FY26 is rupees 346 crores as against rupees 300 crores in 3:59 3 minutes, 59 seconds the financial year 2425 with growth of 17%. 4:05 4 minutes, 5 seconds Earning per share for year ending 31st March 2026 stands at rupees 10.79 4:13 4 minutes, 13 seconds as against rupees 9.34 during previous financial year. Board of directors have 4:21 4 minutes, 21 seconds recommended final dividend of rups 1.25 25 per share in addition to rupees 2 per 4:28 4 minutes, 28 seconds share paid by the company as interim dividend for FY2526. 4:35 4 minutes, 35 seconds The company's order book as on 34 2026 was 11,466 4:43 4 minutes, 43 seconds crores compared to rups 8,563 crores as on 31st December 2025 4:52 4 minutes, 52 seconds reflecting 34% growth in Q4. We remain committed to pursuing growth and credit creating value for our estimators. 5:04 5 minutes, 4 seconds We are also exploring new opportunities in order to realize our true potential. 5:10 5 minutes, 10 seconds I thank you for your trust and collective vision for the future of this company. Thank you. 5:19 5 minutes, 19 seconds Uh sir, should we open the floor for the Q&A? 5:23 5 minutes, 23 seconds Yeah, thank you very much sir. Ladies and gentlemen, we will now begin the question and answer session. Anyone who wishes to ask questions may please press 5:32 5 minutes, 32 seconds star and one on the touchtone phone. If you wish to withdraw yourself from the question, you may press star and two. 5:39 5 minutes, 39 seconds Participants are requested to use only handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question cube assembles. You 5:47 5 minutes, 47 seconds may please press star and want to ask questions. 6:01 6 minutes, 1 second The first question is from the line of Sanjay Chan from ICICI securities. Please go ahead. 6:08 6 minutes, 8 seconds Good morning sir. Uh thanks. Thanks for this opportunity and uh congratulation on a very very strong set of number. I 6:16 6 minutes, 16 seconds think we have exceeded our guidance and the expectation. I got few questions. Uh sir you can you just repeat the order 6:25 6 minutes, 25 seconds book for the uh year end 31st March uh 2026 please this is on date 6:33 6 minutes, 33 seconds this is add as on date so if you want to know 31st March otherwise 30th April it is 11,000 6:41 6 minutes, 41 seconds uh uh 400 uh I was because we track quarterly it will be very helpful if you can give for the year end 6:48 6 minutes, 48 seconds okay so I think around 700 crores course will be minus out of it. 6:57 6 minutes, 57 seconds This this quarter we have received about 700 plus orders new orders. So that will be you 7:06 7 minutes, 6 seconds can say uh roughly 11 10,600 or so 600 700 or so. 7:12 7 minutes, 12 seconds Got it. Got it. Got it. Uh the cell phone. Uh second question on the um telecom business. I think till last quarter we were a little disappointed. 7:23 7 minutes, 23 seconds Uh but this quarter again telecom has come back very strongly. Uh can you help us explain what has driven such a strong 7:30 7 minutes, 30 seconds growth in telecom business? It's grown 24% QQ and 25% YI. 7:37 7 minutes, 37 seconds So um if we talk of telecom income so actually now we are we were executing one project 7:44 7 minutes, 44 seconds for railways which is video surveillance and now that project is in commissioning stage. So there is requirement for 7:54 7 minutes, 54 seconds providing connectivities to railways for the uh uh basically functioning of those 8:01 8 minutes, 1 second CCTV cameras and all that is one and then we have as I've been telling you earlier also that uh we are focusing 8:11 8 minutes, 11 seconds making strategies how to increase our telecom income whatever extent we can though there is lot of pressure so those 8:18 8 minutes, 18 seconds results have also started I think coming out and uh so I think that that these two reasons major 8:27 8 minutes, 27 seconds majorly I see that overall we could perform this year much better not much better slightly better than the previous 8:35 8 minutes, 35 seconds year overall if I keep it got it but but this what we have received for the video surveillance it's 8:42 8 minutes, 42 seconds a recurring revenue or it's a one-time revenue it will be recurring revenue certainly telecom generally is recurring revenue recur Yeah, unless it is in IU fog. 8:53 8 minutes, 53 seconds Yeah. So, uh now this is a new base, right? 8:57 8 minutes, 57 seconds So, we will grow again 10 11% hopefully next year on this piece. That will be a fair understanding. 9:04 9 minutes, 4 seconds See this you can say yes but then there are other telecom markets where the prices are continuously 9:13 9 minutes, 13 seconds in enterprise business uh on the south side. 9:17 9 minutes, 17 seconds But still I would say that we will we are committed to perform better this year overall. 9:25 9 minutes, 25 seconds Got it. Got it. 9:26 9 minutes, 26 seconds So we are focusing on IP1, we are focusing on ISP, we are focusing on NLD all the three segments. 9:34 9 minutes, 34 seconds But I thought we were looking big time in data center. Uh will that revenue not help offset the pressure in the enterprise business? 9:44 9 minutes, 44 seconds Certainly. But that is not telecom income. So if you say the telecom income including data center. Yes. So this year 9:53 9 minutes, 53 seconds we have done uh 202 crores from data center business which is also a good growth and uh this year we want we we 10:02 10 minutes, 2 seconds wish that we will be doing even better much better and so this data center revenue is recognized in projects. 10:11 10 minutes, 11 seconds No no it is right now part of telecom. 10:15 10 minutes, 15 seconds Actually I thought you were talking about uh pure telecom income which is NLD ISP and IP1. 10:24 10 minutes, 24 seconds Okay. 10:24 10 minutes, 24 seconds But if you put whatever we have segmentation done overall telecom includes data center. So yes that data 10:31 10 minutes, 31 seconds center growth has also contributed to this overall growth. 10:35 10 minutes, 35 seconds And what was the data center revenue last year sir? 127. 10:41 10 minutes, 41 seconds Oh very sharp jump. And this is this data center three in Noa what we have put that's ramping data center also I've been I've been 10:50 10 minutes, 50 seconds focusing I've been emphasizing on this fact the data center is our growth driver in future that is where we are 10:58 10 minutes, 58 seconds putting our uh most of our energy and this growth has come from where as 11:06 11 minutes, 6 seconds in uh these are all uh all kind of uh so yeah mostly these are hosted applications in 11:14 11 minutes, 14 seconds our data center. So we are providing them uh data center services uh mostly these are government 11:23 11 minutes, 23 seconds customers, PSU customers, state government. Okay. 11:27 11 minutes, 27 seconds Central government and also railway office various kind of services they are taking. Yes. 11:34 11 minutes, 34 seconds Do we provide DC to the railways as well? 11:39 11 minutes, 39 seconds Yeah. our their uh hospital management information system is completely hosted with us. Hosted on us. 11:45 11 minutes, 45 seconds Their e office applications with us. 11:49 11 minutes, 49 seconds Got it. Sir, can you help us with the revenue break up between NLD and IP1 for this quarter? 11:58 11 minutes, 58 seconds Uh yeah. So this is 120 182 cr uh from NLD 12:07 12 minutes, 7 seconds 120 cr from ISP and 30 cr from IP1 making it 332 cr total 332 cr. Got it. 12:18 12 minutes, 18 seconds This is just another bookkeeping question. Can you can you help us understand how much of our uh right now 12:26 12 minutes, 26 seconds um the pro the order book is from the railways out of it's around 23 12:35 12 minutes, 35 seconds 21% it's around 21% 21%. 21%. Got it. 12:43 12 minutes, 43 seconds And when we say uh revenue from the uh telecom, we don't include data center in it. Correct? 12:52 12 minutes, 52 seconds No. No. Presently it is included data center and ICT income also is part of telecom segment which is being published by us. 13:02 13 minutes, 2 seconds So telecom includes ICT and data center. 13:06 13 minutes, 6 seconds Telecom segment revenue for this quarter was 449 cr. Uh what? 13:11 13 minutes, 11 seconds Yes. Total out of that pure telecom income was 334 cr. 13:16 13 minutes, 16 seconds Okay. And what was the rest 117 cr. So yes that includes data center and few uh 13:25 13 minutes, 25 seconds digital services like Aadhaar authentication kind of services which we are providing actually that piece appears to be 13:32 13 minutes, 32 seconds growing quite fast as in data center other authentication and so that shows the digital uh digital u 13:40 13 minutes, 40 seconds growth being taken by the country basically we are part of that journey. 13:45 13 minutes, 45 seconds So as this digitization wave is uh percolating into the every part of our 13:52 13 minutes, 52 seconds life certainly uh this income is growing. Data center is part of it, data center services part of it and then uh 14:01 14 minutes, 1 second various services connected like nowadays exams are being conducted through biometric correct. So that is part of 14:08 14 minutes, 8 seconds the digital uh wave which is happening ac all across the country. 14:15 14 minutes, 15 seconds So in Aadhaar authentication what service exactly are we providing? 14:21 14 minutes, 21 seconds So for example I I just mentioned about exams. So when a candidate reaches as 14:29 14 minutes, 29 seconds the examination center there is a chance of impulsonation. 14:33 14 minutes, 33 seconds Correct. So then his biometrics are already captured. His Aadhaar number is already there and it can be on 14:40 14 minutes, 40 seconds immediately when he reaches half and one and a half hours before the exam starts. 14:46 14 minutes, 46 seconds It is it is basically confirmed that he is not a impersonated candidate. That is 14:52 14 minutes, 52 seconds a kind of service other authentication and we provide it for the exams and uh 14:59 14 minutes, 59 seconds even for the sector it is yeah it is government. Okay. 15:07 15 minutes, 7 seconds Recruitment exams generally happening conducted by state governments and central governments. UPSC 15:14 15 minutes, 14 seconds NTA like N and N meet and J both the exams biometric authentication happening through us. Okay. 15:25 15 minutes, 25 seconds Got it. So, so, so this other authentication we don't intend it to uh reach out to private player. We are are 15:34 15 minutes, 34 seconds there any plan to even go beyond the uh government entities for No, we are open. We are open but generally they have uh I think private 15:43 15 minutes, 43 seconds if you talk of so kind of KYC happening by banks they are doing it even mobile they have their own 15:52 15 minutes, 52 seconds banks and the mobile sins I think there we have we have not been 16:00 16 minutes approached by anybody but uh if the opportunity comes to us we have skills 16:08 16 minutes, 8 seconds See we generally banking uh personal people are going in person visiting the uh new bank holders and all. 16:18 16 minutes, 18 seconds In one case we are giving standard charter standard charter. Okay. So uh director 16:25 16 minutes, 25 seconds projects has shared that in one case standard chartered bank have started doing KYC with us. 16:34 16 minutes, 34 seconds Do we have any big plan for this business? It appears to be a very lucrative opportunity and highly profitable, right? 16:41 16 minutes, 41 seconds Yeah, it is. It is margins. Yes, because there's a small value denominator basically because per person is the count. 16:50 16 minutes, 50 seconds You were right. So, we are continuously approaching various government agencies because they are the lowest hanging for 16:58 16 minutes, 58 seconds us. they easily uh because BRPs who so they easily uh uh 17:05 17 minutes, 5 seconds have trust confidence they require it private uh players whosoever they are 17:13 17 minutes, 13 seconds they have their own means so but yes our teams have approached as I told you standard chartered bank is 17:21 17 minutes, 21 seconds one of the banks who have started doing with us but uh since this government market is too is already big. We are uh doing our every bit. 17:32 17 minutes, 32 seconds That is how it is a good contributor and and margin in telecom uh segment 17:39 17 minutes, 39 seconds coming so strong in this quarter is purely because of operating leverage because revenue was quite steep. 17:47 17 minutes, 47 seconds Uh yes see uh if I say quarterly so I see always it on average in an annual 17:56 17 minutes, 56 seconds financial statement but yes uh there may be slight aberration if you see the 18:03 18 minutes, 3 seconds margins in telecom but overall it has always been there in the range of 35 to 40 it has always been in that range 18:11 18 minutes, 11 seconds only. So I there may be slight aberration from previous quarters in this quarter but overall if you see in 18:19 18 minutes, 19 seconds an annual statement it is it is almost in the same range I think is 39% for this year 39% I think 18:29 18 minutes, 29 seconds okay 39 and and will this uh heavy for you because a lot of them pay you at the end of the year or you do the billing at the 18:38 18 minutes, 38 seconds end of the year uh generally this seasonality will they be there now or or uh we don't see such seasonality in the 18:46 18 minutes, 46 seconds telecom revenue because Q4 generally is strong for us right Q4 overall if we see in project terms it 18:55 18 minutes, 55 seconds has been there then seasonality in telecom is not a common feature but 19:01 19 minutes, 1 second projects yes so telecom generally has to be uh same in all quarters this 19:10 19 minutes, 10 seconds quarter this time has happened due to this project income this uh VSSs video surveance project. So this is a one-off 19:17 19 minutes, 17 seconds kind of instance but it will be now henceforth recognized every quarter right. 19:26 19 minutes, 26 seconds Yeah. 19:29 19 minutes, 29 seconds Got it. Now now coming to project uh we are scaling quite well in terms of both revenue and order. Uh just wanted to 19:37 19 minutes, 37 seconds one more fact before before you go ahead. One more fact I would like to share. See because we have been 19:44 19 minutes, 44 seconds providing this the video surveillance uh services uh and we have were commissioning in the stage of 19:50 19 minutes, 50 seconds commissioning few uh quarters ahead of this basically Q2 and Q3 also. So some of the billing would have happened even 20:00 20 minutes because once those uh services are accepted so some services we might bill for the previous quarters also. 20:09 20 minutes, 9 seconds Okay. Because once the services are accepted by the customer so previous quarters services are also build in the this quarter. So that also will have a 20:17 20 minutes, 17 seconds delta effect on this. Oh, and how much will it be? Next question. 20:23 20 minutes, 23 seconds Exact numbers I won't have but uh yes there is an element there is some some acred revenue from the previous quarter. 20:31 20 minutes, 31 seconds Yes there right and then going into effort and this trend might continue for few 20:39 20 minutes, 39 seconds new hours or new quarters also because as and when they are uh they have started using these services they have started using these services but once 20:47 20 minutes, 47 seconds they are accepted by the customer then only we can build. 20:52 20 minutes, 52 seconds Got it. Got it. Now, now we have scaled almost uh we are doubling the order book 20:59 20 minutes, 59 seconds um this year uh at least at the end of the year and we have executed a lot more as well. Uh how should we see FI27 from 21:07 21 minutes, 7 seconds the project uh uh revenue and order book? 21:14 21 minutes, 14 seconds Uh so order book we are uh very optimistic and we expect that this trend will 21:23 21 minutes, 23 seconds continue this year also because the kind of participation in various standards and our teams getting tuned to the 21:32 21 minutes, 32 seconds tendering things now for last three four years they are also gaining experience less number of errors happening in 21:40 21 minutes, 40 seconds participation in tenders and all. So certainly I wish and I expect that there will be improvement and this trend at 21:49 21 minutes, 49 seconds least will continue that is the thing and then if I if you see the revenue 21:57 21 minutes, 57 seconds uh part so I think 3,00 to 3,500 crores of income should get at least 22:05 22 minutes, 5 seconds should get converted into revenue this year. 22:09 22 minutes, 9 seconds That's that's quite a strong number we are talking and and and yeah, what what exactly um are the large 22:19 22 minutes, 19 seconds project we are eyeing next year or or uh if you can give some insight into what are the large project railway and 22:25 22 minutes, 25 seconds non-railway that we are uh looking up in FI27 large in size. 22:34 22 minutes, 34 seconds So uh see um see as I've been telling that we are focusing more on data center side. So data center certainly will be 22:43 22 minutes, 43 seconds there but the comparison with data center and projects will be slightly different. Uh so railway tenders yes we 22:52 22 minutes, 52 seconds are focusing in on railway tenders also signaling uh as as far as signaling because signaling now we have gained a lot of 23:00 23 minutes experience for past two to three years coverage no new tenders are seen at least for now 23:09 23 minutes, 9 seconds from railways. So but we have uh already three orders with us and we have to deliver those uh during last two to three years. 23:20 23 minutes, 20 seconds Uh apart from railways there is a lot of demand coming from 23:26 23 minutes, 26 seconds state governments and uh public sector undertakings, central government organizations for 23:34 23 minutes, 34 seconds their on-prem data center, their sock. So these kind of uh activities which are though not directly 23:43 23 minutes, 43 seconds related to data center services which we are providing but uh basically uh building their data 23:50 23 minutes, 50 seconds centers. I see a lot of traction happening this year and this uh is where I feel that this year we should get a good number of orders. 24:02 24 minutes, 2 seconds Okay sir. any any any update on the LTA deployment by the railway and for us an opportunity in terms of uh 24:09 24 minutes, 9 seconds I don't have any latest update so so there is nothing happening on that site right 24:18 24 minutes, 18 seconds uh I would say anything about it but presently I'm not aware of uh so as soon 24:24 24 minutes, 24 seconds as I become aware I can of course I think. 24:36 24 minutes, 36 seconds Yes, sir. Let me check. Give me a moment, please. 24:56 24 minutes, 56 seconds I'm sorry. So that was from the participant's line. 25:02 25 minutes, 2 seconds So we'll uh the participant has left the queue. Uh I'll just announce for few more questions and then we'll take the next participant. I would request Mr. 25:11 25 minutes, 11 seconds Sanjay to kindly rejoin the queue. Also anyone who wishes to ask question may please press star and one on your touchstone. 25:38 25 minutes, 38 seconds Sanjay Jan is back in game. Hello. Sir, you may please proceed. Yeah. 25:44 25 minutes, 44 seconds Yeah. Thank you. Uh uh so just wanted to understand last on the data center that 102 edge data 25:52 25 minutes, 52 seconds center we were building in. Um how has been the uh deployment last year and how are we seeing that deployment for the next year? 26:02 26 minutes, 2 seconds So last year we uh commissioned two one is in Delhi in Gorga and the other one 26:10 26 minutes, 10 seconds is in Mumbai. These are two small data centers as data centers. We have uh 26:17 26 minutes, 17 seconds actually Mumbai has been done recently in March only and Delhi is already operational and this year we are eyeing 26:26 26 minutes, 26 seconds at least three Indoren Chandigar and uh Vishakapasna. 26:36 26 minutes, 36 seconds These three we are looking at at least this year. We were looking at maybe few more come. Okay. 26:44 26 minutes, 44 seconds Yeah. 26:44 26 minutes, 44 seconds Are there any delays at data center? I thought we were looking like three four last year and and and uh material. 26:51 26 minutes, 51 seconds See actually uh ultimately it is business which will drive. 26:56 26 minutes, 56 seconds Correct. So right now though we have been hearing about edge data centers for quite some time but in a true sense we 27:06 27 minutes, 6 seconds have not seen any growth overall pan India bases all operators when I see so there is I think this momentum will take 27:16 27 minutes, 16 seconds maybe one one or two more years when uh this uh the demand for a data edge data 27:22 27 minutes, 22 seconds centers will really get converted into the prolifer operation of these S data centers in tier 2, tier three cities. 27:32 27 minutes, 32 seconds Even now what we have seen that first S2 S data centers are not in tier 2, tier three towns but now this phase this year I think we will be going to that stage. 27:44 27 minutes, 44 seconds So Mumbai and Delhi uh they are not tier 2, tier three. So as in two sense I would say they are as 27:52 27 minutes, 52 seconds data center but they are smaller ones and they will serve those kind of services which will be which will be of smaller scale. So we can say that these 28:00 28 minutes are as data centers. So I think that growth is not happening in in general also okay in India. 28:12 28 minutes, 12 seconds And then my last question on the cape that we are planning for the next year will be around 300 crores. 28:22 28 minutes, 22 seconds And and our budgeting we have made planned capex. Yes. 28:27 28 minutes, 27 seconds Okay. Three 300 crores and and and what will be the main area of the capex for us next year? 28:35 28 minutes, 35 seconds Mostly it is data center and uh partly telecom and some other smaller power and all that. 28:43 28 minutes, 43 seconds Got it. Got it sir. U very helpful and uh again congratulation for a very strong set of number and best of luck for the coming quarters. 28:51 28 minutes, 51 seconds Thank you. Thank you very much and I think you must have covered most of the questions related to investors queries 28:58 28 minutes, 58 seconds in their mind. Uh so thank you very much for this diversity of questions also. 29:04 29 minutes, 4 seconds Thank you sir. We'll take the next question from the line of Manish Owal from Nirmal Bang. Please go ahead. 29:13 29 minutes, 13 seconds Yes sir. Thank you for the opportunity. A very good set of numbers for the year. 29:17 29 minutes, 17 seconds uh as I as I'll join the call uh little late uh so my question may be repetitive but first question is sir of the current 29:26 29 minutes, 26 seconds uh financial year of 26 total revenue what is the contribution coming from data center and the current order book position and the data center related 29:35 29 minutes, 35 seconds work uh what is the size uh okay so uh 29:42 29 minutes, 42 seconds your first question is uh related to uh data Center revenue right? Yeah. 29:49 29 minutes, 49 seconds Contributing to the overall revenue is 202 crores. 29:54 29 minutes, 54 seconds Total order book is 11 11,46 30:02 30 minutes, 2 seconds 46 sorry yeah 11,466 crores and out of this data center 30:10 30 minutes, 10 seconds I have not really worked out how much data center is there but we can I think let you know through u 30:20 30 minutes, 20 seconds your uh this thing right now I'm not aware the exact number out of this order book. 30:27 30 minutes, 27 seconds Okay. And the second sir, uh in our project business uh I know in the previous instances you guided five six% 30:34 30 minutes, 34 seconds kind of margin. So what is the stable margin trajectory uh at a budget level you want to operate operate uh the 30:41 30 minutes, 41 seconds project business the project business uh margins we are continuously striving to remain in the 30:51 30 minutes, 51 seconds four to 5% bracket four to 5% brand all right sir thank you 30:59 30 minutes, 59 seconds okay thank you anyone who wishes to ask questions may please press star and one on their touchstone phone. 31:09 31 minutes, 9 seconds The next question is from the line of Kumar Devan Shu an individual investor. Please go ahead. 31:17 31 minutes, 17 seconds Yeah, good morning sir. Uh congratulations for the very good set of thumb. Uh I just want to have the attention regarding the order field to 31:26 31 minutes, 26 seconds you because as we have given the information that whatever the order your not just a minute your voice is not 31:34 31 minutes, 34 seconds coming loud and yeah hello sir now it is coming yes 31:42 31 minutes, 42 seconds yeah please yeah sir uh just I want to know that you have already given the information 31:49 31 minutes, 49 seconds regarding the order book as of April 30th. So just could you please mention that what order book you have executed till yet out of that? 32:02 32 minutes, 2 seconds So order book means not executed as yet. 32:07 32 minutes, 7 seconds No no no no sir whatever the order you have executed executed I'm talking about of FY 26 total that is the revenue that that gets 32:16 32 minutes, 16 seconds converted into revenue whatever I'm saying 11,466 cr is unexecuted it's not converted into 32:24 32 minutes, 24 seconds any revenue this will be get this will be converted during the future course of time 32:33 32 minutes, 33 seconds okay so what order you have executed this That is the revenue that numbers I can't 32:40 32 minutes, 40 seconds tell you because that is the Q1 of this year. So those numbers are not yet declared for Q1. Last year's revenue I have already seen. 32:52 32 minutes, 52 seconds Last year revenue you know. 32:55 32 minutes, 55 seconds Ah okay sir. And the second question are out you will get to know the Q1 numbers. Yeah. 33:02 33 minutes, 2 seconds Yeah sure sir. And the second one is the could you please give the update on the guideline which you have given earlier 33:09 33 minutes, 9 seconds what is the progress till yet or what is your planning? 33:14 33 minutes, 14 seconds So our growth guidance will be around 20% for this financial year. 33:21 33 minutes, 21 seconds We have met the earlier guidance and uh last year also so we have already met our earlier guidance guidelines also. 33:31 33 minutes, 31 seconds Okay sir. So there is no change in guidelines. Am I right? Yeah. Okay. 33:38 33 minutes, 38 seconds I would say I would say uh that since the absolute number of revenue is increasing so growth which was in the 33:47 33 minutes, 47 seconds range of 25 kind of num percent numbers earlier years previous years will certainly now be around 20%. 34:00 34 minutes Last year we did 22%. Yeah. Okay. Okay. Answer any capex plan? 34:09 34 minutes, 9 seconds We have around planned capex is around 300 cr. 34:14 34 minutes, 14 seconds Okay. In in which vertical s business vertical? 34:18 34 minutes, 18 seconds Be data center. This will this will be most of it will be in data center and uh our telecom uh network basically. 34:30 34 minutes, 30 seconds Yeah. Yeah. Yeah. And so just one thing could you please give your uh overall your business vertical that in which 34:37 34 minutes, 37 seconds domain you are working there are the domain which are actually contributing the revenue. 34:44 34 minutes, 44 seconds So there are two broad domains telecom and project business. 34:50 34 minutes, 50 seconds Telecom is one which includes data center. The other one is project. So where other various ITI ICT projects are 34:58 34 minutes, 58 seconds being executed by just mention that I am not able to understand that project side I'm able to 35:07 35 minutes, 7 seconds understand that what are the businesses in this just on project. Could you please elaborate a little bit? I think 35:14 35 minutes, 14 seconds it will take a lot of time to uh uh give you all these details. I'm sure uh you 35:21 35 minutes, 21 seconds you can go through the because it is not a small thing which your questions I think more of a fundamental nature. So other investors would be waiting. 35:32 35 minutes, 32 seconds Projects are kind of uh CCTV projects, IT projects, smart city projects, railway signaling projects, data centers 35:41 35 minutes, 41 seconds creation for other organizations making their data centers. So implementing hospital management information system kind of projects. 35:51 35 minutes, 51 seconds These are all kind of projects. Okay sir. Okay. Got it. Thanks. Thank you. 35:59 35 minutes, 59 seconds Thank you sir. Anyone who wishes to ask questions may please press star in one on the touch point. We'll take the next 36:07 36 minutes, 7 seconds question from the line of Vishal Pereal from PL Capital. Please go ahead. 36:15 36 minutes, 15 seconds Uh yes sir. Thanks for the opportunity and uh congratulations on great set of result. uh uh I think though I think 36:24 36 minutes, 24 seconds maybe couple of clarification only uh uh is it is it fair to say that uh data center margin trajectory is is a little 36:32 36 minutes, 32 seconds bit on the higher side visav NLD ISP when we uh report the numbers or that 36:38 36 minutes, 38 seconds what you have seen in in our working no 36:45 36 minutes, 45 seconds data center margins uh will not be higher than telecom pure telecom margins 36:53 36 minutes, 53 seconds they won't be okay fine fine sure and and u let me let me correct this so presently yes let me correct I have confirmed it 37:01 37 minutes, 1 second from uh our uh e finance so he's saying yes right now yes but I think I can 37:09 37 minutes, 9 seconds cannot comment upon the future trajectory because we are yet evolving in data center business 37:18 37 minutes, 18 seconds okay the reason I good mark. 37:24 37 minutes, 24 seconds Okay sir. Because I think uh uh because the reason is like you know we have seen a pretty strong up move in the quarterf margin though you did mention like you 37:32 37 minutes, 32 seconds know there is could be a prior period one off but I think uh one trajectory change that we are seeing in our numbers 37:40 37 minutes, 40 seconds is like you know that data center revenues are increasing and the margins are also seeing a change. So we're just 37:46 37 minutes, 46 seconds trying to uh uh I mean like you know uh correlate to that any any relevance and how how exactly to see the numbers but 37:54 37 minutes, 54 seconds yes I think maybe I think earlier we were planning to have uh uh maybe like you know if the business segment itself 38:03 38 minutes, 3 seconds is becoming big data center so can we have a separate uh sort of numbers that will also be helpful helpful to the investors in general for data centers. 38:12 38 minutes, 12 seconds Yeah we are we are we are planning Okay. Okay. Sure sir. And then uh next 38:21 38 minutes, 21 seconds uh I think uh uh in terms of uh the uh uh data center capacity as such though you did mention like you know probably 38:28 38 minutes, 28 seconds we are adding up indoor and vishaka. So uh in terms of trajectory can you mention like you know uh current 38:36 38 minutes, 36 seconds operational capacity FI26 is this megawatt and and how exactly in terms of megawatt this number is changing say by 38:43 38 minutes, 43 seconds fi 27 end or maybe 28. So uh that will also help I mean like investors in terms of like growth. 38:51 38 minutes, 51 seconds Yeah. Yeah. So if we talk of data center, so we are uh uh we are working out on a very comprehensive and hybrid kind of strategy in data center segment. 39:03 39 minutes, 3 seconds It is it is actually a capital heavy sector because you require a lot of kax 39:11 39 minutes, 11 seconds to invest in data center. So we have already shared with the investors earlier as well that we have developed 39:19 39 minutes, 19 seconds partnership models wherein uh players like who have developed their real estate ready for data centers. There are 39:28 39 minutes, 28 seconds partners who are investing in building our data centers and we have our own data centers. So those all three kind of 39:36 39 minutes, 36 seconds uh uh basically uh approach we are taking 39:43 39 minutes, 43 seconds and if we talk of capacity uh this year so this year maybe we have uh added one 39:50 39 minutes, 50 seconds data center already last year in uh Mumbai which is a small though and uh one smaller one we have also set up at 39:59 39 minutes, 59 seconds NOA data center site which is a smaller one 500 kow only. So roughly we will be having 3 megawatt this year means we 40:08 40 minutes, 8 seconds have already have 33 megawatt and 5 megawatt capacity should be ready by May next year. 40:16 40 minutes, 16 seconds Apart from this as I told you that we already have a readily available data 40:22 40 minutes, 22 seconds center space with our partners who have who have created this real estate passive infrastructure 40:31 40 minutes, 31 seconds and uh it depends mostly on the customer whether they are comfortable in our own data center or in data center real estate property owned by somebody else. 40:43 40 minutes, 43 seconds we are entering into lease agreements with these uh real estate owners. 40:50 40 minutes, 50 seconds Uh that is also happening so that our customers are more comfortable. So that is all we are trying to do and we are 40:58 40 minutes, 58 seconds working really hard to focus on data center segment. 41:05 41 minutes, 5 seconds Sure sir. Sure sir. and and uh though you didn't mention on our guidance uh and historically I think we have seen uh 41:12 41 minutes, 12 seconds you I mean like you know surprise on a positive side in terms of actual delivery uh I think uh one thing in 41:21 41 minutes, 21 seconds terms of segmental breakup in terms of guidance if one look uh project side uh you're mentioning like you know we we could be doing almost like 3,500 odd 41:30 41 minutes, 30 seconds crores revenue and and uh telecom side I think we have done pretty strong set of revenue growth in quarter 4. So 41:38 41 minutes, 38 seconds projecting it it could be there uh at least in the base quarter we don't have uh so number wise it could be there in FI27 41:46 41 minutes, 46 seconds u so will that be fair to understand uh in terms of the numbers I think more or less you are correct 41:55 41 minutes, 55 seconds okay okay sure sir I think uh this is a bit from my side and I'll I'll come back in the queue sir 42:02 42 minutes, 2 seconds thank you thank you anyone who wishes to ask questions may key press star and one on the touch also. 42:27 42 minutes, 27 seconds Ladies and gentlemen, as there are no further questions from the participants, we now conclude the call. On behalf of PL Capital, thank you for joining us. 42:35 42 minutes, 35 seconds And you may now disconnect your lines. Thank you.