Bench Mark Infotech Services Limited has no owned fibre network

Bench Mark Infotech Services Limited reported Rs 7.22 crore from leasing or renting fibre infrastructure in FY 2026, equal to 11.93% of revenue from operations. However, Bench Mark Infotech Services says it does not own optical-fibre network infrastructure for leasing and rents required capacity from third-party network operators for project execution.

Does Bench Mark Infotech Services own the fibre network it describes as leased?

No. Bench Mark Infotech Services explicitly states that it does not own or hold optical-fibre network infrastructure for leasing to customers. The company obtains required fibre infrastructure from third-party network operators on a rental basis for project execution, with rental charges and directly attributable costs recorded as project cost under direct expenses.

This disclosure defines the practical model behind the fibre-renting label. Bench Mark Infotech Services says it does not undertake leasing or sub-leasing of fibre infrastructure as a standalone activity. Its fibre work also includes trenching, digging, ducting, cable laying, fibre-network integration and restoration, meaning the offering combines provisioned third-party capacity with execution services under customer projects.

Bench Mark Infotech Services is registered as an Infrastructure Provider Category-I, or IP-1. IP-1 registration enables an entity to establish, maintain and lease telecom infrastructure assets, including dark fibre, right of way, duct space and towers, to licensed telecom service providers. The registration permits such activity, but the prospectus separately says Bench Mark Infotech Services currently has no owned optical-fibre network available for customer leasing.

How important is rented fibre capacity to Bench Mark Infotech Services revenue?

Fibre Optic Infrastructure Solutions generated Rs 7.84 crore in FY 2026, representing 12.95% of Bench Mark Infotech Services' Rs 60.53 crore revenue from operations. Leasing or renting fibre infrastructure supplied Rs 7.22 crore of that vertical, while trenching, ducting and restoration services generated Rs 61.89 lakh.

The two disclosed fibre categories show that capacity-related revenue accounted for most of the vertical. Leasing or renting fibre infrastructure represented approximately 92% of the Rs 7.84 crore fibre total in FY 2026, based on the company’s service-wise revenue figures. That revenue classification does not establish ownership of network assets because the company says the capacity used for project execution is rented from third-party operators.

Integrated IT solutions remained Bench Mark Infotech Services' largest business model in FY 2026, generating Rs 50.45 crore, or 83.35% of revenue from operations. Annual maintenance contracts, or AMCs, and facility support services generated Rs 2.24 crore, or 3.69%. The revenue mix places fibre behind integrated IT solutions while identifying it as a separate project and connectivity-related vertical.

What changed in Bench Mark Infotech Services fibre revenue over three years?

Bench Mark Infotech Services' Fibre Optic Infrastructure Solutions revenue increased from Rs 6.14 crore in FY 2024 to Rs 7.53 crore in FY 2025 and Rs 7.84 crore in FY 2026. Its share of revenue from operations nevertheless declined from 18.01% in FY 2024 to 15.05% in FY 2025 and 12.95% in FY 2026 as total operating revenue rose from Rs 34.10 crore to Rs 60.53 crore.

Leasing or renting of fibre infrastructure rose from Rs 5.95 crore in FY 2024 to Rs 6.53 crore in FY 2025 and Rs 7.22 crore in FY 2026. Its share of total operating revenue fell over the same period, from 17.45% to 13.05% and then 11.93%. The change indicates that total company revenue expanded faster than the disclosed fibre-renting category.

Trenching, ducting and restoration revenue followed a different pattern. The category increased from Rs 19.06 lakh in FY 2024 to Rs 99.78 lakh in FY 2025 before declining to Rs 61.89 lakh in FY 2026. Bench Mark Infotech Services does not provide a project-level allocation of third-party fibre rental costs, customer billing or margins within the leasing or renting category.

What does recurring fibre revenue depend on?

Bench Mark Infotech Services describes fibre infrastructure as a source of execution-based revenue and long-term recurring income, but the disclosed arrangement depends on customer contracts and third-party network capacity. Continuation of this revenue therefore requires project demand, access to rented fibre infrastructure and the execution of the contracted connectivity work.

The company follows an order-driven project model, participating in competitive bidding and tendering before procuring components and integrating solutions to customer specifications. Its average project completion timeline is approximately two to three months, subject to scope, size, client specifications, site readiness, material availability and other project conditions. These variables can affect the timing of project-linked fibre revenue.

Bench Mark Infotech Services disclosed a note that recurring fibre business contributes approximately Rs 2 crore in quarterly revenue but is not reflected in the reported figures. The prospectus does not state the applicable period, accounting treatment or reason why this figure is excluded, and it cannot be reconciled directly with reported FY 2026 fibre revenue of Rs 7.84 crore. The figure is consequently a separate company statement rather than a replacement for the reported revenue table.

Which disclosed orders and plans relate to fibre work?

As of September 15, 2026, Bench Mark Infotech Services listed a Rs 3.22 crore RailTel Corporation of India Limited order for railway-backbone fibre infrastructure. Awarded on February 23, 2026, the order represented about 26% of the company’s Rs 12.18 crore ongoing order book on that date.

The company is a RailTel business partner and is empanelled with Bharat Sanchar Nigam Limited, or BSNL, as a National Level System Integrator. Bench Mark Infotech Services says these arrangements enable access to procurement opportunities from central government departments and public sector undertakings beyond individual tender-based engagements, although awards and execution remain necessary for revenue recognition.

Bench Mark Infotech Services plans to expand its optical-fibre infrastructure capabilities across multiple geographies in India. The disclosed plan focuses on cable laying, installation, splicing, testing, commissioning and associated civil work including trenching, ducting and restoration. The plan describes expanded execution capabilities, not a stated plan to acquire or own a fibre network for standalone leasing.

Conclusion

Bench Mark Infotech Services' FY 2026 fibre revenue was material at Rs 7.84 crore, including Rs 7.22 crore classified as leasing or renting of fibre infrastructure. The prospectus qualification is central: the company owns no fibre network for leasing, obtains required capacity from third-party operators and does not conduct standalone fibre leasing or sub-leasing.

The disclosed Rs 3.22 crore RailTel railway-backbone order and the plan to expand fibre deployment capabilities are the next stated developments to watch. Whether fibre-related revenue continues to recur will depend on future project awards, project completion and the availability of third-party network capacity, none of which is quantified beyond the disclosed periods.