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Atria to invest Rs 700 cr in FY18, eyes expansion in 4 new cities
MUMBAI: In an overheated space, Atria Convergence Technologies is expanding its broadband business in the southern region and outside.
Atria, which offers wired broadband services under the brand, will invest up to Rs 700 crore this year to expand its infrastructure and presence across the country.
The Bengaluru-based company is planning to enter 3-4 new cities. It already has a presence in 11 Indian cities.
Having stepped into the Delhi market, the private equity-backed company is planning to invest Rs 100 crore in the city.
“We will invest around Rs 700 crore this year to expand our infrastructure. We are planning to enter into 3-4 new cities. The funding will be through internal accruals and debt,” Atria CEO Bala Malladi told TelevisionPost.com.
Atria, which has 1.2 million broadband subscribers, posted a turnover of Rs 1,300 crore in FY17, Malladi said. While the company’s highest subscriber base is in Hyderabad, it has also achieved significant scale in cities like Bengaluru and Chennai.
Atria is supported by private equity firms True North and TA Associates and is comfortably funded. It is India’s third-largest wired broadband services player by subscribers, after BSNL (9.8 million subscribers) and Bharti Airtel (2.09 million). The total number of wired broadband subscribers in the country stood at 18.23 million at the end of May 2017, as per TRAI data.