Indus Towers, a joint venture between Bharti Group, Idea Cellular and Vodafone Essar, on Monday said it would add around 5,000 telecom towers every year in the next five years to boost mobile connectivity. The company owns more than 1.1-lakh towers and has operations in 16 out of the 22 telecom circles.
“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 told journalists here. Vodafone Essar and Bharti Group hold 42 per cent stake each in the company, while the remaining 16 per cent is being held by the Idea Group.
“We have exhibited a business edge over its competitors even in times of tough market conditions and intense competition. The cost comes on an average to Rs.23 lakh per tower for installing them,” Mr. Shantharaju said.
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“Currently, nearly 84 per cent of the telecom towers are being used by the joint venture companies of Indus Towers and about 16 per cent by the new telecom service providers,” Mr. Shantharaju said.