Videocon Telecom to invest Rs 1,240 cr this fiscal

Mobile operator Videocon Telecom today said it will invest Rs 1,240 crore mainly in network expansion and infrastructure in four service circles.
"We will be investing over 1,240 crore in our existing four circles in FY 2014-15 primarily on network expansion, IT infrastructure, service platforms, and other technological advancements," Videocon Telecom Director and CEO Arvind Bali said in a statement.
The company is targeting consolidated revenue of Rs 2,500 crore in FY 2014-15, it added.
Videocon Telecom has permit for telecom services in seven out of 22 circles but currently operates in four circles of Gujarat, Madhya Pradesh, Haryana and Punjab.

The company said that revenue of the company grew by 77 per cent year-on-year to Rs 344.5 crore in the last quarter of FY2013-14.
"Minutes of usage have grown by over 81 per cent, data business is up by an impressive 317 per cent and now contributes to 7 per ecnt of our Mobility Business with over 38 per cent of our mobile customers actively using data," Bali said.

Videocon Telecom started its business afresh after winning spectrum in November 2012.
The company has recorded highest net subscriber addition continuously over 8 months, as per data released by industry body COAI.

"The Telco achieved an impressive 91 per cent growth in its Subscriber base at 7 Mn Customer base," the statement said.