Home » Idea to invest Rs.5,500 crore in FY16

Idea to invest Rs.5,500 crore in FY16

Idea to invest Rs.5,500 crore in FY16

Idea Cellular expects Reliance Jio Infocomm´s impending launch of 4G services to fuel faster growth of data services in the country, but will continue to focus on growing its 3G operations for now.

¨For us, 3G will be a priority area and we are able to provide 80 per cent of 3G services coverage,¨ Himanshu Kapania, Chief Executive, Idea Cellular, said. Aditya Birla Group will invest about Rs 5,500 crore in the current fiscal on its services and network expansion, he said. Idea is currently evaluating 4G services, according to Kapania. In its earnings report for Q4 ended March 31, Idea had said that it plans to launch 4G services sometime in 2016.

The company gained market share in each of its 22 circles last year and its biggest gains came from its top circles such as Madhya Pradesh, Kerala, Punjab, Andhra Pradesh and Maharashtra, brokerage BNP Paribas said in a recent report.

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