| Market Cap | ₹14,163 CrMid Cap |
|---|---|
| P/E TTM | 454.57Sector: 22.91 |
| 1Yr Return | 115.2%Price change |
| Order from | Indian sovereign AI company |
| Execution period | Through June 2029 |
| Deal value | ₹1,000 Cr |
| Share of market cap | 7.1% |
| Share of annual revenue | 273.1% |
Key highlights
- Binding term sheet valued at ~₹1,000 crore excluding taxes for cloud GPU services
- Contract involves deployment of high-performance NVIDIA Blackwell cloud GPUs
- Agreement remains valid through June 2029, providing long-term revenue visibility
- Order value represents approximately 273% of the company's trailing twelve-month revenue
- Deal signed with an Indian sovereign AI company for cloud infrastructure and allied services
A Transformative ₹1,000 Crore Sovereign AI Mandate
This agreement marks a significant milestone for E2E Networks, representing a contract value nearly triple its trailing twelve-month revenue of ₹366.23 crore. The binding term sheet with an Indian sovereign AI company focuses on the deployment of NVIDIA Blackwell cloud GPUs, a next-generation architecture designed for massive-scale AI workloads. This multi-year engagement provides a stable revenue pipeline through June 2029, aligning with India's broader push for sovereign AI capabilities.
The scale of this order underscores the increasing demand for domestic high-performance computing infrastructure as enterprises and government bodies shift toward AI-centric operations.
Deployment Details and Service Scope
- Provision of NVIDIA Blackwell cloud GPUs and allied services to a sovereign AI entity
- Agreement validity through June 2029 ensures long-term infrastructure utilization
- Integration with E2E’s TIR AI/ML platform for secure private networking via VPC Connect
- Access to Jarvislabs.ai for production-ready open-weight models and model APIs
- Infrastructure support including InfiniBand H200 clusters and serverless inference
Historical Growth and Capacity Expansion
E2E Networks has consistently expanded its order book through strategic partnerships and government-linked missions. Prior to this ₹1,000 crore deal, the company secured orders under MeitY's IndiaAI Mission, including a ₹177 crore contract for GNANI AI and an ₹88.02 crore agreement for GAN AI in August 2025. To meet this surging demand, management has set an ambitious target of reaching a minimum capacity of 6,000 GPUs by the end of FY27.
This expansion includes the deployment of over 2,048 NVIDIA B200 units, supported by recent shareholder approval for growth capital to fund aggressive capacity additions.
Revenue Visibility Through 2029
The ~₹1,000 Cr sovereign AI contract for Blackwell GPUs gives us strong revenue visibility through 2029. With shareholder approval for growth capital in place, we remain focused on aggressive and judicious capacity expansion to meet India’s growing demand for AI compute.
| Date | Announcement | Amount |
|---|---|---|
| 31 Aug 2026 | Binding term sheet signed with an Indian Sovereign AI company to supply NVIDIA Blackwell cloud GPUs and allied services through June 2029Source: sahi.com | ₹1,000.00 Cr |
| 29 Apr 2026 | Agreement signed with a US-based AI service provider for GPU cloud computing and allied services for 6 months ($7.7 million)Source: angelone.in | ₹73.00 Cr |
| 02 Jan 2026 | Service order received through Larsen & Toubro Limited to provide GPU-based cloud infrastructure services to an Indian-headquartered global SaaS provider for 1 yearSource: NSE filing | ₹8.49 Cr |
| 02 Sep 2025 | Work order awarded under the Ministry of Electronics and Information Technology's (MeitY) IndiaAI Mission to allocate H100 SXM and H200 SXM GPU resources to GNANI AI for 360 daysSource: angelone.in | ₹177.00 Cr |
| 26 Aug 2025 | Contract awarded under MeitY's IndiaAI Mission to allocate 1,024 H200 SXM GPUs with InfiniBand networking to GAN AI for 12 monthsSource: e2enetworks.com | ₹88.02 Cr |
What to watch next
- Transition of Anurag Tiwari to the role of Managing Director-Designate on October 16, 2026
- Deployment progress of 2,048+ additional NVIDIA B200 units as per FY27 capacity guidance
- Next quarterly financial results to reflect initial revenue contribution from the new sovereign contract
“Q2 FY’27 — revenue 5.1x year-on-year to ₹2,238 Mn, EBITDA margin expanded further to 76.6%, and PAT rose to ₹727 Mn. The ~₹1,000 Cr sovereign AI contract for Blackwell GPUs gives us strong revenue visibility through 2029.”
| Share price | ₹689 |
|---|---|
| Market capitalisation | ₹14,163.42 Cr |
| Revenue (annual) | ₹245.58 Cr |
| Net profit (annual) | -₹15.57 Cr |
| Revenue (latest quarter) | ₹156.76 Cr+63.90% vs previous quarter |
| Net profit (latest quarter) | ₹43.88 Cr+581.86% vs previous quarter |
| P/E (TTM) | 454.57×Sector 22.91× |
| Promoter holding | 39.45%0.00% QoQ |
| FII holding | 1.27%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by E2E Networks Limited announcing the signing of a binding term sheet for a ₹1,000 crore cloud GPU contract. Market figures from a third-party data provider.
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