Reliance Broadcast Network Ltd today said it has won 14 new frequencies in the just concluded phase III of the radio auctions, which will help the company grow consistently and increase revenues.
"We have consistently maintained a leadership position in the market...As a result of the recently concluded Phase III radio auctions, we have added 14 new frequencies across our focus markets and are certain that we will grow consistently and increase our revenue," Tarun Katial, Chief Executive Officer, Reliance Broadcast Network Limited said in a statement.
He also said the company is looking forward to migrate its existing presence in all metros, mini metros and all key states for a further period of 15 years.
92.7 BIG FM, the radio channel of Reliance Broadcast, is the largest radio network in India with a total of 59 frequencies now.
The existing 45 station network is focusing on key cities such as Pune, Nagpur, Lucknow, Patna, Varanasi, Kolhapur among st others.
"Overall presence of 59 stations with newly acquired frequencies in key states of Maharashtra, Uttar Pradesh, Bihar and Northeast India continuing to be the largest network in the country," it said.
The overall network now covers all four A+ category towns, 7 out of nine A category towns and 12 out of 17 B category towns.
92.7 BIG FM will see a total of 5 new stations in Maharashtra/Goa (Pune, Nagpur, Kolhapur, Aurangabad and Ahmednagar) in addition to its current network of 3, making it a total of 8 stations.
The company said it will have 100 per cent coverage and presence in UP, Bihar and Jharkhand, with 5 new (Lucknow, Patna, Varanasi, Gorakhpur and Muzaffarpur) and 8 existing frequencies.
Also the radio network will have the largest presence in Northeast India and Jammu & Kashmir with new frequencies in Agartala, Itanagar, Shillong and Aizwal, including its existing presence in Jammu, Srinagar and Guwahati.
In 2014-15, the company had registered a topline growth of nearly 30 per cent year on year and 45 per cent EBITDA margin in radio.