Broadband service provider YOU Telecom will invest around Rs 428 crore (Rs 4.28 billion) in the next two years.
"We will invest Rs 400 crore (Rs 4 billion) in the next one year to set up operations in additional 11 cities. The additional cities covered will be mainly tier-II cities across the country," YOU Telecom CEO E V S Chakravarthy told PTI.
The company provides broadband services in 12 cities, including Surat, Ahmedabad, Rajkot, Mumbai, Hyderabad and Gurgaon and claims to have 150,000 registered subscribers. "Due to expansion of our business, we plan to touch a subscriber base of 6,00,000 in three years' time," Chakravarty said.
The company, which currently claims to have a 7.5 per cent market share, aims to take it to 15 per cent in a period of three years. YOU Telecom has 70 per cent residential subscribers and 30 per cent business registrations, which mostly include SMEs.
"We want to take the ratio to 50:50 in the next two years. For the purpose, we will buy remote management, security and remote backup solutions from US and European companies over the next two years," said the CEO.
These solutions would upgrade the company's services and provide security solutions to the subscriber companies, he said.
The company will spend around Rs 28 crore (Rs 280 million) over the next two years on buying these solutions, he said.
As a result of these initiatives, the company is targeting a revenue of Rs 350 crore (Rs 3.5 billion) in the next three years, compared with Rs 80 crore (Rs 800 million) in the 2006-07 fiscal, Chakravarty added.
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