Excitel Franchise
FTTH broadband provider (~1M homes, ~44 cities) that works through local cable-operator partners. Est. investment ₹2–5 L; terms not published.
Excitel franchise at a glance (terms checked Sept 2026)
Investment
₹2 L - ₹5 L*
Estimate — not published by the brand
Ongoing take
Commission
Franchise fee
No franchise fee
Payback
Not published
* Not verified — the brand doesn't publish this; the figure comes from other published sources or FranchiseChuno's estimate (see "Reported elsewhere" and "Our estimates" below). Real numbers can differ.
- Disputes with franchisees: None found (records checked Sep 2026)
- Profit or loss: Profit of ₹40 Cr in FY26
- Company standing: Active and up to date with the registrar
Franchisor strength isn't franchisee profit — check real outlet numbers.
Outlets
Not published
What we couldn't verify
- • Outlet closures
- • Franchisee satisfaction
- • Outlet claim matches reality
- • Network growth
Ask before you sign
- Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- Get a written, itemised cost breakdown — the brand hasn't published one.
- Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
Franchise terms checked against Excitel's official partners page on 27 Sept 2026. Figures marked * aren't published by the brand — they come from other published sources or our own estimate, and aren't verified.
Ways to Partner with Excitel
1 partner model published by the brand. Figures it doesn't publish are left blank.
Excitel Regional Partner (ERP)
- Investment
- ₹2 L – ₹5 L
- Royalty / margin
- Commission on subscribers served; rate not published
- Territory
- Local operating area; size not published
- Who it suits
- Cable TV and cable internet operators, and infrastructure providers in residential societies
Investment is a FranchiseChuno estimate. Partners build, own and maintain the last-mile fibre to Excitel's design (Inc42, Mar 2025).
Our Estimates
FranchiseChuno estimateExcitel doesn't publish these, so here is our best read of the market and how we got there. They are our estimates, not the brand's figures — use them to plan, then confirm the real numbers in writing.
Cash an existing cable operator needs to start as an Excitel partner
₹2–5 L*
The model is aimed at cable operators who already have a local office, technicians and rights of way. Inc42 reports that the last mile must be a fresh network laid to Excitel's specifications, and co-founder Vivek Raina says about 70% of the capex in this business sits in that last mile, so the partner bears most of the build cost. The range assumes a small starting area of 100–200 connected homes at roughly ₹2,000–2,500 per connection for fibre drops, splitters and home equipment, plus a small float for tools. A larger area, or a new entrant with no existing network or staff, would need much more.
Unit-economics model · Sep 2026
Excitel's revenue per subscriber (the pool partner commissions come from)
₹390–440 a month*
Filed FY25 revenue of ₹518 Cr over about 1.0–1.1 million subscribers is about ₹390–430 per subscriber a month; the company-reported FY26 revenue of ₹530 Cr over just over 1 million subscribers is about ₹440. A partner's commission is some share of this; Excitel doesn't publish the split.
Adjusted from reports · Sep 2026
Reputation & News
4 red flags to checkWhat the press, courts and real franchisees or customers have said about Excitel — summarised by us, with every source linked.
- In the news· Jun 2026
FY26 profit came after shutting about 10 markets
CEO Varun Pasricha told Mint the first profit came mainly from shutting operations in about 10 small or underperforming markets, including Mumbai, Ambala and Karnal, and focusing on core markets (Delhi, eastern UP, Rajasthan, Hyderabad, Bangalore). FY26 revenue grew 2.5%. Excitel now operates in about 44 cities and towns and shelved a planned fundraise of up to $200 M; Mint put its valuation at around $175 M.
Source: Mint - In the news· Feb 2026
Co-founder Vivek Raina steps down as CEO; Varun Pasricha succeeds him
Excitel elevated COO Varun Pasricha to CEO after co-founder Vivek Raina decided to step down after 10 years; Raina stays a shareholder and the company gave no further reason. Excitel said Pasricha will focus on fibre expansion and stronger cable-operator partnerships.
Source: ET Telecom - In the news· Oct 2023
Excitel stopped service in four cities in 2023
TelecomTalk reported that Excitel discontinued service in Bareilly, Nohar, Rawatsar and Nagaur, leaving it in 43 cities at the time.
Source: TelecomTalk - Customer view· Sep 2026★ 1.1/5 · 381 ratings
Customer reviews are overwhelmingly negative
Excitel's unclaimed Trustpilot profile rates it 1.1/5 across 381 reviews, 376 of them one-star. Recurring complaints are outages, slow ticket resolution, refund delays and local technicians charging extra at installation; one reviewer says Excitel support blamed the extra charges on its local vendor partners.
Source: Trustpilot
Show 4 moreShow fewer
- In the news· Jun 2026
Excitel turns profitable in FY26
Excitel reported ₹530 Cr revenue and ₹40 Cr profit for FY26, with EBITDA (company-defined) rising to ₹73 Cr from ₹35 Cr in FY25. The company said its subscriber base held steady at just over one million. These are company-reported figures, not yet in filings.
Source: BW Disrupt - In the news· Mar 2025
How Excitel grew on a local-operator model
Inc42 traced Excitel's growth from 100,000 connections in its first year to about one million by early 2025. It also covered losses of ₹155 Cr in FY23 and about ₹120 Cr in FY24, and explained how local cable operators build and maintain the last-mile network.
Source: Inc42 - Franchisee view· Sep 2026
Partner testimonials published by Excitel
Excitel's partners page carries testimonials from regional partners who joined between 2015 and 2017 and say they now serve roughly 800 to 3,500 customers each. They credit Excitel's sales support and network back-end. These are published by the brand, not independently collected, and are several years old.
Source: Excitel partners page (brand-published testimonials) (the brand's own site) - Customer view· Sep 2026★ 4.4/5 · 1,11,000 ratings
My Excitel app rated 4.4 on Google Play
The My Excitel self-care app is rated 4.4/5 on Google Play from about 1.11 lakh ratings. App ratings mostly reflect the app itself (payments, plan changes), not network quality or partner service.
Source: Google Play
What Excitel sells
- Fibre (FTTH) broadband plans
- IPTV / TV service with add-on OTT subscriptions
- Customer self-service through the My Excitel app (Android and iOS)
Source: Excitel website
Key Terms at Excitel
The clauses that shape day-to-day running and your exit — read these before the fee.
- Penalties
- If a customer outage isn't fixed within four hours, the customer gets one free day for every four-hour delay, and the cost is deducted from both Excitel's and the partner's commissions (as reported by Inc42, Mar 2025).
Legal & Contract Summary
Key contract terms at a glance — read before you sign.
Agreement Type
You supply retailers in your territory
Contract Duration
—Renewal Available
—Territory Exclusivity
—Non-Compete Clause
—Exit Clause
—Who Can Apply for Excitel
Conditions the brand sets for partners, and the licences the business needs.
- Who can apply: Cable TV operators, cable internet operators, or infrastructure providers in residential societiesRequired
About the Brand
Brand USP
Uncapped fibre broadband and IPTV delivered through local cable operators who own the last-mile network.
Why invest in Excitel?
Excitel by the Numbers
As stated by the brandAbout 1 million homes
Subscribers · FY26
Brand claimAbout 44 cities and towns
Cities · Jun 2026
Brand claim₹530 Cr
FY26 revenue · Jun 2026
Brand claim₹40 Cr PAT; EBITDA ₹73 Cr
FY26 profit · Jun 2026
Brand claimDescribed as India's fourth-largest FTTH broadband network (BW Disrupt, Jun 2026)
Market position · Jun 2026
Brand claimExcitel Regional Partners — local cable TV / cable internet operators and society infrastructure providers
Partner model · Sep 2026
Brand claimAbout 6,000 km of core fibre and about 800 distribution points
Core network in Delhi · Mar 2025
Brand claimCities with Outlets
Show all 17 citiesHide the city list
Company Financials
Brand-level, publicly reportedThe franchisor's own company health — separate from what a single franchise outlet earns.
Revenue (FY25)
₹517.91 Cr
Net loss (FY25)
₹74.09 Cr
Total funding raised
$16.1M+
Valuation (Feb 2022)
$20.7M
Employees (Jul 2025)
1,907
Notable investors
Source: Tracxn — Excitel (Excitel Broadband Private Limited), FY25 financials (from company filings)
Source: Tracxn — Excitel, funding and headcount (Sep 2026)
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Health Check
What Excitel's franchisor company has filed with the registrar and the courts — the checks a lawyer would run before you sign.
- Status with the registrar
- Active
- Annual filings
- Up to date
- Last AGM
- 30 Sep 2024
- Paid-up capital
- ₹97 L
- Auditor
- S.R. Batliboi & Associates LLP
Group companies
- Excitel International B.V.Holding company · 99.99%
- Excitel Private LimitedGroup company
Source: Tracxn — Excitel Broadband Pvt Ltd MCA filings (compliance status updated 5 Dec 2025; checked 27 Sep 2026) (checked Dec 2025)
Full company recordsFinancials year by year, registered details, leadership and timelineShowHide
Excitel Financials Over Time
Figures for the brand, from filed or reported accounts.
Source: Tracxn — Excitel Broadband Pvt Ltd (MCA filings) · BW Disrupt (company-reported, Jun 2026)
A profitable franchisor doesn't mean profitable franchisees. These are the company's numbers, not an outlet's. A franchisor can grow on fees and supplies while outlets struggle — talk to existing franchisees and see their accounts before you decide.
Company Profile
The legal entity behind the brand, its leadership, and its official channels.
- Registered name
- Excitel Broadband Private Limited
- Company type
- Private Limited
- CIN
- U63090DL2015PTC277612
- Incorporated
- 5 Mar 2015
- Headquarters
- Gurugram, Haryana (registered office: Okhla Phase III, New Delhi)
Leadership
- VVarun PasrichaCEO (from 2026)
- VVivek RainaCo-founder (former CEO; shareholder)
- NNikolai GorchilovCo-founder
Social presence
Company details source: Tracxn — company filings
Excitel Timeline
5 Mar 2015
Excitel Broadband Private Limited incorporated
Registered in New Delhi.
Source2015
Launch and 100,000 connections in year one
Founded by Vivek Raina with three international co-founders who had earlier built and sold an ISP business in Bulgaria to Deutsche Telekom; the first year reached 1 lakh connections against an internal target of 50,000.
SourceOct 2018
Series A of $4.6 M
Led by NEVEQ, Impetus Capital and BlackPeak Capital.
Source2020
Subscriber base doubles from 3 lakh to 6 lakh
During the Covid-19 lockdowns.
SourceMay 2022
Series C of $11.5 M
SourceOct 2023
Service stopped in four cities
Bareilly, Nohar, Rawatsar and Nagaur (TelecomTalk).
SourceMar 2025
About one million subscribers
FY24 revenue ₹486.84 Cr.
SourceFeb 2026
Varun Pasricha named CEO
Succeeds co-founder Vivek Raina, who stepped down after 10 years and stays a shareholder.
SourceJun 2026
First profitable year
FY26 revenue ₹530 Cr, profit ₹40 Cr.
SourceJun 2026
About 10 markets shut; fundraise shelved
Operations closed in about 10 small or underperforming markets, including Mumbai, Ambala and Karnal; now in about 44 cities and towns (Mint).
Source
FranchiseChuno Analysis
Our analysis of verified dataHow Excitel looks once the numbers are checked side by side.
- !The franchisor company is loss-makingIts latest filed accounts show a net loss. Franchisors that lose money can cut support or change terms — ask how franchise operations are funded.
- ✓Brand operating for 11 yearsFounded in 2015. The brand doesn't state when franchising began.
- !4 red flags in the news or public discussionSee Reputation & News below, and ask the brand to address each one.
Data completeness
45%
- ✓ Terms checked against the brand's own page
- ○ Published investment (not an estimate)
- ○ Franchise fee
- ○ Royalty
- ○ ROI or payback claim
- ○ Agreement term
- ○ Training details
- ✓ Outlet cities verified
- ✓ Company financials
- ✓ Legal entity
- ✓ News & public opinion checked
Ask Before You Sign
Questions tailored to what Excitel does and doesn't publish.
- 1Speak to at least 3 franchisees who have run an outlet for 2+ years and see their actual monthly sales and profit — a franchisor making money doesn't mean its franchisees do.
- 2Get a written, itemised cost breakdown — the brand hasn't published one.
- 3Ask for every upfront payment in writing — deposit, onboarding, equipment or stock — and which parts are refundable.
- 4Ask exactly how your margin or commission is calculated, when it's paid, and whether the brand can change it.
- 5Ask for the agreement term, renewal fee and exit or transfer terms.
- 6Ask whether you get an exclusive territory, and how large it is.
- 7Ask how the franchisor funds training and support while it's loss-making.
- 8Ask the brand to respond to each red flag listed under Reputation & News.
- 9Have a lawyer review the franchise agreement before paying anything.
- 10Visit 2–3 existing outlets and speak to their owners without the brand present.
Running the outletSpace, staff, launch steps, training, support and who does whatShowHide
Operations Required
What you'll need on the ground to run this franchise day-to-day.
Area Required
—
Staff Needed
—
Setup Time
—
Owner Involvement
—
Best Locations
Not published
Business Type
Not published
Training & Support
What the brand provides to help you launch and run your franchise.
Operations Manual
Step-by-step playbook for running the outlet
Supply Chain Support
Vendor sourcing, inventory & logistics
Technology / POS
Billing, inventory, and management software
Marketing Support
National & local marketing campaigns
Launch Support
Pre-opening setup and grand-opening assistance
Ongoing Field Support
Regular visits and operational coaching
Who Does What
Per franchisorHow Excitel splits the work between the brand and you, as the brand describes it.
Excitel
Handled centrally by the brand
- 1
Core network and backend
Excitel runs the core fibre network and connects partner networks to its backend after inspecting them (Inc42).
- 2
Sales and marketing support
Partner testimonials on Excitel's partners page credit its sales and customer-acquisition support.
You (franchisee)
Your local responsibilities
- 1
Build and own the last-mile network
Invest in a fresh last-mile fibre network built to Excitel's specifications and design, then own and maintain it; co-founder Vivek Raina told Inc42 about 70% of the capex in this business sits in the last mile (Inc42, Mar 2025).
- 2
Connect new customers
Each new connection request becomes a ticket for the local partner, who pulls fibre from the nearest distribution point to the home (Inc42).
Ongoing Support
What Excitel franchisees say
We haven't yet heard from enough Excitel franchisees to show anything. We publish totals once 3 or more people who run an outlet have answered and we've called each one to check.
I run a Excitel outlet — share how it wentFrequently Asked Questions
What is the total investment for a Excitel franchise?
Is an Excitel partnership a franchise?
How does an Excitel partner earn, and what are the penalties?
Who can become an Excitel Regional Partner?
What do Excitel customers say?
Is Excitel financially stable?
Has Excitel pulled out of any cities?
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