Ramarathinam Sellaratnam, group chief executive officer and managing director, iBUS told Business Standard in a virtual interaction that the sectors would receive a disproportionate share of the company’s focus. This is because they offer higher growth opportunities and since its core business of offering passive network to Indian telcos is growing at a stable pace, despite investments into 5G technology.
“Over the next four years we’ll deploy close to about ₹300 crore to 500 crore investments, which will generate incremental revenues,” Sellaratnam said. The company would target annual revenue of ₹2,000 crore by 2027-28 (FY28), he added. According to Traxcn, the company’s annual revenue grew 24 per cent to ₹314 crore in FY25. The company is yet to file its FY26 financials. It deploys carrier-agnostic managed Wi-Fi solutions across retail, commercial and residential real estate in over 1.2 billion square feet across the country.
On new opportunities in SE Asia, Sellaratnam said iBUS had a 60 to 70 per cent market share in the business of providing in-room connectivity in the 4-5 star hotels in India. The company plans to replicate this over time in markets like Sri Lanka, Thailand, Malaysia, Indonesia and the Philippines. The upside will also come from revenue per room from these markets which is 1.5 times that of India. “We currently service 100,000 rooms in India. I would like to have at least that kind of runway in each of the five countries, at a minimum in four to five years,” he added.
With several foreign universities from the UK, US and Australia setting up large campuses in India, digitisation of on-premises or in-college education has also become another growth opportunity, said Sellaratnam.
Premiumisation of homes, especially in Mumbai, Bengaluru, Gurugram and Hyderabad, or homes upwards of ₹4 crore to 5 crore, has also led to consumers seeking premium digital services — another area that iBus intends to monetise. The segment was seeing a 40 per cent growth. “Right from fixed line, internet, to security, to complete digital infrastructure from the building stage itself. We are offering (services like) facial recognition and intrusion detection,” he added.
The expansion strategy comes at a time when the pace of growth in iBUS’ ‘passive network as a service’ offered to Indian telcos — Jio Infocomm, Bharti Airtel, Vodafone Idea and BSNL — remains constant on a year-on-year basis in FY27. Sellaratnam added that the company was well capitalised to undertake domestic and global expansion. The company raised $200 million from National Investment and Infrastructure Fund (NIIF) and ₹280 crore from World Bank arm International Finance Corporation in 2024.
 "Ramarathinam Sellaratnam (Ram), Group CEO & Managing Director, iBUS Networks")