• Wind procurement update: The contracting of 1,550 MW of wind power projects represents a periodic two-year supply order for turbines and does not alter full-year business projections.
• Data center growth: Data and AI account for 42% of contracted capacity (up tenfold from 250 MW to 2,500 MW in two years) and 30% of energy sales, with management expecting its revenue share to reach around 42% in one to two years.
• Market share standing: The company holds a 35% market share in India's hyperscaler business and is the leading power provider to colocation data centers in the country.
• Q1 margin performance: Consolidated margins fell from 66% to 50% due to a higher revenue mix from the lower-margin project sales segment, despite individual margin expansion in energy sales (82% to 85%) and projects (10% to 14%).
• Capacity addition target: The company has guided to add a minimum of 1,500 MW of capacity per year to drive growth in its high-margin energy sales business.