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Hathway plans to invest Rs 1,000 cr in broadband biz, add 1 mn subscribers
MUMBAI: Hathway Cable & Datacom intends to invest up to Rs 1,000 crore in the next three years to expand its broadband business.
The company is expecting to add one million broadband subscribers during this period. Hathway’s broadband subscribers at the standalone level stood at 0.6 million till 31 December 2016. The total broadband subscriber base at the consolidated level was 0.86 million.
The investment in South India will be around Rs 500 crore over the next three years. Hathway on Monday announced the commercial launch in Chennai of the GPON fibre-to-home (FTH) technology.
“The capex plan in the broadband business is Rs 800-1,000 crore over the next three years. Out of this, South India should consume about Rs 500 crore,” an official said.
Besides launching its broadband services in Chennai, Hathway is going to set up a data centre in the city. Bullish on the Tamil Nadu market, the company is going to expand its footprint to 10 more cities in the state. The aim is to mop up 500,000 customers over the next three years.
Hathway’s package will start from Rs 999 onwards per month with speeds up to 150 mbps and 1000GB data unload per month. The other plan on offer will be 200mbps and 1000GB data at Rs1,299 per month.
In the first nine months of FY17, Hathway’s investment in the broadband business stood at Rs 170 crore. The company’s broadband service is currently present in 20 cities.
Hathway’s broadband revenue has stayed ahead of its cable TV subscription income for two consecutive quarters. Broadband revenue for the quarter ended 31 December 2016 stood at Rs 127.8 crore. In comparison, cable TV subscription revenue stood at Rs 114.1 crore. In the first quarter ended 30 September, broadband revenue was at Rs 120.3 crore. In contrast, cable TV subscription revenue stood at Rs 110.4 crore.