Hyderabad has become India's first 'Giga City' with the launch of ACT Fibernet's 1 GBPS broadband internet services. The Benguuru-based company invested Rs100cr for the project, which took over 1.5 years to roll out. It will offer the high-speed plan at Rs 5,999 per month, with a 1 TB cap.
Only four countries in the world offer Gbps services on a large scale -- Seoul in North Korea, Hong Kong, Singapore and a couple of cities in the US. ACT Fibernet's 1 Gbps wired internet service will be launched in 10 other cities in the near-term. It also plans to invest around Rs 1,200 crore over the next two financial years to boost its presence in the country.
The company will be banking on its investors - True North (earlier known as India Value Fund Advisors ) and TA Associates for the requisite funds, he added. It clocked revenues of Rs Rs 900 crore last fiscal and is expecting a growth of 30% this fiscal. Interestingly, around 50% of the company's business comes from Hyderabad alone, where it has over five lakh subscribers. ACT Fibernet is the largest broadband provider in the twin cities of Hyderabad and Secunderabad with over 70% market share.
0 comments:
Post a Comment