So, we got a price of rupees 72 lakhs which the CFO office told us to go and negotiate the project at with reliance. When we went to reliance, let's see what happened during the negotiation. reliance started the negotiation from rupees six lakhs, they said they could afford at the most six lakhs for this project. Well, we were all taken aback by this price what reliance was willing to pay. Nevertheless, after a lot of discussion within the company, ultimately the marketing team decided to sell the project at 14 lakhs and the lines like how accepted the to pay 14 lakhs for this project. Now, for a small company like ours will have been impossible to proceed with this kind of a price.

However, Siemens could afford it because of a few reasons. One was Siemens had a very profitable annual maintenance contract for all the IoT solutions in reliance EBIT from the AMC used to be close to 65 to 70%. Now, also, for every subscriber that reliance added to their network, they had to pay a license fee. Now the license Siemens used to sell and Siemens could dictate the terms of the license, what is the price and how much license quantity etc. So, Siemens could recover a lot of money from the license for the loss, which will have done through a project like GPRS billing. Also, Siemens would cover up these costs through other projects, which will which you to sell in the subsequently.

Well, Siemens had reasons to be able to cover for this price, but we will see how we made it even better for ours, our company, even after selling at such a huge loss to reliance