Future Group eyes Rs 18K cr revenue from telecom JV

Retail to financial services to telecom conglomerate the Future Group today said it is eyeing Rs 18,000 crore revenue from its mobile telephony service T24, launched last year along with Tata group company, Tata Teleservices over the next three years.

"We expect to add around Rs 18,000 crore to our (Future Group) total revenue from this service alone in the next three-years. This will come from the 10-million new customers we will have by then through this venture," Future Group Founder and CEO Kishore Biyani told reporters here.

Tata Teleservices and the Future Group had joined hands to launch T24 last year.

The GSM service, which was started as a pilot in June last in Hyderabad, is the company's second loyalty programme after its 'Green Card' which it runs in its Pantaloon chain of retail stores.

"There are about 30% of loyal (Green Card) customers, who shop for about Rs 60,000 per annum on an average," Biyani said, while launching the GSM service in Maharashtra today.

The service has already been launched in 16 circles and Himachal Pradesh is next (in Q1 FY12), Biyani said.

T24 is already present in major circles such as Andhra Pradesh, Karnataka, Gujarat, West Bengal, Orissa, Punjab, Uttar Pradesh, Tamil Nadu, Kerala, Madhya Pradesh, Haryana, Jharkhand and Chattisgarh, among others.