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Commtel bets big on the AI solutions vertical and aims for Rs 500 crore in revenue by 2024

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Commtel bets big on AI solutions vertical aims for Rs 500 crore in revenue by 2024

–         Commtel aims to double 2024 revenues to Rs 500cr

–         Bets big on AI solutions vertical, to grow to Rs. 100cr by 2024

Mumbai, 1 August: Commtel, a globally recognized engineering and technology firm that provides Unified Critical Communications (UCC) along with high-performance digital communications, surveillance, and safety solutions to clients in the power, oil & gas, transportation, mining, and other critical national infrastructure (CNI) sectors, has expanded its scope to provide better performance and predictability using the most advanced Artificial Intelligence and Machine Learning technologies through their application, CN-SHIELD. 

The company aims to generate up to 50% of its revenue from AI-based solutions in 4 to 5 years as it focuses on strengthening and expanding its AI solutions. Most importantly, the inclusion of this new business will increase the overall business margin (EBIDTA) from the current 17 percent to more than 25 percent.

CMD of Commtel, Shriprakash R. Pandey, said “By the end of this year, Commtel aims to increase its revenue from the current Rs.280 crore to Rs.350 crore and begin to monetize its AI-based solutions. The company expects to attain Rs.500 crore in revenue in fiscal 2024. The AI solutions are expected to generate Rs 100 crore for the company during this period.”

Commtel

Commtel has emerged as a leading player in the communications, security, and surveillance space for the biggest names in the CNI sectors. Bharat Petroleum, Hindustan Petroleum, Indian Oil Corporation, ADNOC, ExxonMobil, KIPIC, Power Grid Corporation, and others are among its clients. The company has served more than 300 customers across different sectors. It has deployed over 100,000 industrial IoT devices, and 50,000 addressable nodes operating on about 115,000 km of dedicated optical fibre networks. It has completed projects in India, the United States, the United Arab Emirates, Kuwait, Saudi Arabia, Turkmenistan, Oman, Bangladesh, Sri Lanka, Norway, and Algeria.

Since its inception in 1998 in Mumbai, the company has been at the forefront of engineering intelligence, specializing in turnkey solutions while extending its presence in the Middle East and North America. Commtel has built its AI solution on nybl’s platform, the UAE-based deep tech company democratizing AI in which it also holds a minority stake. 

Recently, the company also announced it is making conscientious efforts focusing on sustainability by taking actionable steps towards a more inclusive, responsible, and growth-inclined business model. It has adopted a methodical approach to establishing scalable and efficient Environmental, Social, and Governance (ESG) programs and procedures that can endure the test of time, as well as the expectations and demands of stakeholders, besides the cultural transformations.

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