SOMA Networks to invest Rs 400 cr further in Guj

With enquiries from enterprises and retail clients pouring in for its mobile WiMAX products and professional services in Gujarat, SOMA Networks Software Engineering Private Limited will be investing around $ 80 million (Rs 400 crore approx.) further in the state.

The company had begun offering mobile WiMAX products through state-owned BSNL's broadband service networks in Gujarat since February.

So far, SOMA Networks has invested about $ 50 million (Rs 250 crore approx.) in Gujarat and has set up around 30 base stations on BSNL's network.

"Given a huge scope of retail and enterprises clients in the state, we are planning to expand our operations and will be investing $ 80 million further and set up around 100 more base stations by end of June. We are anticipating a considerable amount of retail as well as enterprise clients in the coming months. Moreover, we have been in talks with companies like JP Cement, Adani Group and Essar Group for our WiMAX products in Gujarat," said Mayur Tanna, vice president - sales and marketing, SOMA Networks Software Engineering Private Limited.

The company, which saw a revenue of Rs 7 crore for the financial year 2008-09, is expecting to earn around Rs 50 crore from Gujarat by end of fiscal 2009-10.

Tanna added that the further investment will also be used to take the total number of base stations in Gujarat to 300 by end of the fiscal.

While initially SOMA Networks is focusing on major cities in Gujarat like Ahmedabad, Vadodara and Surat, the company will later spread to around 30 cities in the state. The company is looking to tap retail and enterprise clients on a ration of 70:30, respectively.

Apart from BSNL in India, SOMA Networks also has tie-ups with AT&T in the US and local players in Malaysia and Cambodia.