In FY23, topline was driven by projects under government’s Har Ghar Jal programme for supplying water to all households. Under this, Vindhya has got orders for end-to-end water projects in Madhya Pradesh and Uttar Pradesh. The UP deal alone is worth ₹6,000 crore. It has also bagged irrigation orders from Chhattisgarh and Madhya Pradesh. Chawla says the group sees this as a growth opportunity for next 5-10 years. The company has also proposed providing fibre connectivity along water pipelines but is yet to get the go-ahead. “It will be a great way to provide fibre to rural homes,” says Chawla. He says growth over last two years has been driven by water and irrigation projects.

Meanwhile, Vindhya’s core telecom cables business was slow last quarter due to tepid demand from U.S. and China, but it is expecting orders to pick up in next couple of quarters. Within India, demand is growing for fibre connectivity under Bharat Net project that aims to connect all 2.5 lakh gram panchayats with optical fibre cable; 2.1 lakh have already been connected. Bharat Net entails laying of 12 lakh kms of fibre over next three years. That will create massive demand for optic fibre cables. In addition, the three largest telcos — Bharti, Reliance and Vodafone — are also laying fibre to meet rising demand for 5G and proposed 6G services. Therefore, cable manufacturing will remain a key revenue generator.

Vindhya is considering entering 5G manufacturing by joining hands with a company that has the relevant technology. The partner will be responsible for R&D. “We have signed an NDA (non-disclosure agreement). Manufacturing will be done like a Make in India project,” says Chawla. It is also expecting orders from Indian Railways that is looking at 4G/5G technology for its anti-collision device Kavach, the electronic system that activates braking system to prevent collision between locomotives.

Vindhya is also an IP-1 infrastructure provider that can build and maintain assets such as dark fibre (spare piece of fibre in the ground), right of way, duct space and towers for telecom services. It is focusing on North, Central, East and North-East India. The areas where it has provided fibre connectivity include Siachen, Kargil, Char Dham and Amarnath. Chawla says all telcos ride on their network.

For a company that has been connecting India in more ways than one, the big challenge is: What next? Chawla says they want to capitalise on opportunities in providing connectivity. That’s a good sign for millions looking for better opportunities, no matter where they are.

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