The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Kunal Vora - BNP Paribas, Research Division - Analyst
: My question was partially answered, but the spike in receivables from [INR 30 billion] to INR 53 billion. You already have about 2,400 crores received
from VIL. Can you explain why the receivables have increased despite this? And also, regarding the security package, if you are not able to collect
the dues, at what point will the corporate guarantee be triggered? So if you can answer this, I'll go to the next one?
Question: Kunal Vora - BNP Paribas, Research Division - Analyst
: Just wanted to get a clarification. You already have received advance payment. Why is that not being used? Why is an adjustment not being made
against that?
Question: Kunal Vora - BNP Paribas, Research Division - Analyst
: Okay. Fully consumed. Okay. Understood. And my second and last question is on the energy cost. What is the variable cost assuming that instead
of 2 tenants, if there is a single tenant, is it fair to assume that there will be no impact on your energy margins? And also, would the energy cost go
down like by almost 50% if there is a single tenant on a tower instead of 2?
Question: Kunal Vora - BNP Paribas, Research Division - Analyst
: Well, I just wanted to get some sense, like, say, currently, you have a 2%, 3% negative energy margin. Hypothetically, if a tenant goes, would that
2%, 3% go up? Or would that 2%, 3%, hold, let's say, at current level or at least very close to current level?
Question: Kunal Vora - BNP Paribas, Research Division - Analyst
: But would you be willing to incur the CapEx in the current situation when there is uncertainty about sustainability of one of the tenants. I mean
energy model -- fixed model will require CapEx from your side, right, and you have to build in that certain amount of tenancy will continue?
Question: Neerav Dalal - Maybank Kim Eng Holdings Limited, Research Division - Analyst
: Just on, actually, this is a repetition, just on the outlook going ahead, how do you see the tower addition panning out? And in terms of margins,
we've seen smart improvement in margins, ex of energy, what -- how should one look at that going ahead?
Question: Neerav Dalal - Maybank Kim Eng Holdings Limited, Research Division - Analyst
: Right. So should we assume that the momentum of the current quarter with some impact coming in from COVID not being there, we should be
able to maintain?
Question: Neerav Dalal - Maybank Kim Eng Holdings Limited, Research Division - Analyst
: Sure. Sure. And then on the margin side, any?
Question: Neerav Dalal - Maybank Kim Eng Holdings Limited, Research Division - Analyst
: Sure. And I guess you did mention that in the next 3 months, there could be some more talk in terms of strategy. But within the strategy, how do
you see -- is there a play on fiber? And what are adjacencies would you be looking at?
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