New Delhi: Telecom Tower firm Indus Towers on Monday said it plans to add nearly 5,000 telecom tower annually for the next five years and expects to be an over $2 billion company in the current fiscal.
“We are planning to add nearly 5,000 telecom towers every year in the next five years and we expect to be a $2 billion company in revenue terms,” , Indus Towers CEO B.S. Shantharaju said.
Indus Towers is a joint venture company of Bharti Group, Idea Group and Vodafone Essar.
Vodafone Essar and Bharti Group hold 42% stake each in the company and Idea Group has the remaining 16%.
The company, which has operations in 16 out of the 22 telecom circles, currently owns more than 1.1 lakh towers.
“The cost comes on an average at Rs 23 lakh per tower for installing them,” Shantharaju said.
Besides, Indus Towers has reached to the 2-lakh tenancies mark in less than three-years, becoming the first company in the world to touch that feat. It had 73,800 tenancies in 2008.
The company, which has customers like Bharti Airtel, Loop Telecom, Reliance Communications and Idea Cellular among others, expects to reach nearly 90% teledensity in its operational circles in the next five-year.
“In the next five years, we expects to reach nearly 90% teledensity from the existing nearly 58%,” Shantharaju added.
The firm is also taking many initiatives like solar-powered telecom towers as a part of it low cost energy saving technologies.
Shantharaju further added, “Currently, nearly 84% of the telecom towers are being used by the joint venture companies of Indus Tower and about 16% by the new telecom service providers.