• Revenue growth outlook: Management expects to maintain roughly 20% annual top-line growth over the next three years, driven by enterprise IT digitization, data center expansion, and government AI use cases.
• Data center expansion: Data center revenue is projected to reach ₹300 crore in FY27 with margins of 10% to 11%, with management targeting ₹500 crore in revenue within three years.
• Kavach project execution: Surveys are complete and partner approvals are in final stages for projects in East Central and West Central Railways; these 30- to 35-month contracts are expected to deliver significant revenue this year at margins of 5% to 7%.
• Blended margin guidance: Project business margins average 4% to 5% overall—offsetting higher 8% to 10% margins on nomination railway work—which will keep blended company EBITDA margins at around 14% over the next two to three years.
• Broadband subscriber additions: Despite urban market saturation and stiff competition from major telecom operators, RailTel added around 50,000 broadband subscribers last year and another 8,000 to 10,000 in the first quarter.