Reliance Jio on Friday outlined five strategic commitments that it said will drive the next phase of its growth, as the telecom operator crossed 524 million subscribers and strengthened its position as India's largest telecom company.
Speaking at the 49th Annual General Meeting (AGM) of Reliance Industries Ltd (RIL), Akash Ambani, Chairman of Reliance Jio Infocomm, said the company had achieved an "extraordinary" operational scale in just a decade and was now preparing for its next growth chapter by expanding 5G adoption, broadband access, enterprise digitisation, artificial intelligence and global technology offerings.
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"In 10 years, Jio has reached an operational scale that is simply extraordinary. The Jio user base has crossed 524 million, cementing our No. 1 position," Ambani said.
He added that Jio's 5G subscriber base had crossed 268 million, making it "the largest for any single-country operator outside China", with 77 million net additions during the year.
Inside Jio's 5-point plan for next phase of growth
Laying out Jio's roadmap, Ambani said the company's first commitment is to make Jio True 5G the foundation of India's next digital leap. "Our target is to migrate all subscribers to 5G by 2030 while advancing India's leadership position in 6G standards," he said.
The second commitment is to take high-speed home broadband to every part of India, while the third focuses on digitising Indian enterprises and small businesses. The company also plans to ensure "AI for everyone, everywhere" and take Indian technology solutions to global markets.
Jio's broadband ambitions have already gained scale, with JioAirFiber reaching 13 million connected homes, making it the world's largest fixed wireless broadband operator, according to Ambani.
He added that total data traffic on Jio's network during FY26 stood at 241 exabytes, up 30.8 per cent year-on-year, placing the company among the world's largest data operators.
The telecom business also delivered strong financial performance during the year. Jio Platforms reported revenue of Rs 1,46,885 crore in FY26, up 14.6 per cent year-on-year, while EBITDA grew 18.8 per cent to Rs 76,255 crore. EBITDA margin improved to 51.9 per cent.
"For the first time in our history, Profit After Tax crossed Rs 30,000 crore, growing 15.1 per cent year-on-year," Ambani said.
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Signalling Jio's next connectivity frontier, Ambani said the company now aims to extend digital access beyond terrestrial networks.
"Jio connected India on the ground, now we must connect from the skies," he said, adding that satellite communications would act as the bridge for connecting people and regions that remain beyond the reach of conventional networks.
The announcements come as Reliance Jio enters a pivotal phase in its evolution, with the telecom operator simultaneously pursuing an ambitious foray into satellite communications, preparing for its proposed stock market listing and strengthening its presence across 5G and home broadband services.
Jio's big satellite bet
In its latest push beyond conventional telecom services, Reliance Jio is planning to build its own low Earth orbit (LEO) satellite constellation comprising around 1,600-1,650 satellites at an altitude of nearly 650 kilometres over the next two to three years, ET had reported on Thursday, citing people in the know. The company has submitted a proposal to space regulator Indian National Space Promotion and Authorisation Centre (IN-SPACe), which is evaluating the proposed configuration and technical architecture.
The constellation is intended to provide broadband and direct-to-device services and would make Jio the first Indian company to enter the lucrative LEO segment, which is currently dominated by foreign players, including Starlink, said the ET report by Kiran Rathee.
Industry experts estimate that establishing a constellation of this scale could require investments of $10-15 billion and potentially create capacity running into several terabits, depending on the satellites deployed. The satellite business is expected to be housed under Jio Platforms alongside the company's other digital assets.
From exploratory plans to execution
The reported proposal builds on plans that began taking shape earlier this year, when Reliance Industries started examining a large-scale entry into satellite communications.
The company had constituted six teams to work on different aspects of the project, including satellites, launches, payloads and user terminals, while also initiating discussions with the Department of Telecommunications on facilitating filings for orbital slots with the International Telecommunication Union (ITU).
The project has been spearheaded by Reliance Industries Chairman Mukesh Ambani, with senior executives including Reliance president P K Bhatnagar, Jio Platforms chief executive Mathew Oommen and senior vice-president Aayush Bhatnagar playing key roles.
Reliance has also explored inorganic opportunities, including potential acquisitions of satellite entities possessing orbital slots and ready infrastructure, as it seeks to establish a presence in a segment where several global players already have significant scale.
RIL Board approves Jio’s $4 billion IPO
At the 49th AGM, Reliance Chairman Mukesh Ambani announced that the company's board had approved the draft red herring prospectus (DRHP) for Jio's initial public offering and that the filing would be made later in the day with market regulator Sebi. Calling it a "deeply emotional moment", Ambani said the IPO would comprise a fresh issue of up to 27 crore equity shares with a face value of Rs 10 each.
The proposed issue is expected to become India's largest-ever IPO, overtaking the nearly Rs 30,000 crore public offering of NSE and Hyundai Motor India's Rs 27,870 crore issue.
The filing marks a key milestone for Reliance's digital business, nearly six years after Jio Platforms raised more than Rs 1.5 lakh crore from global investors. After initially considering an offer-for-sale structure, Reliance has opted for a predominantly fresh issue, meaning the proceeds will flow directly into the company.
Ambani said Jio's listing would demonstrate to the world that India can build technology companies of "global scale, global capability, and global value".
Subscriber growth and rising ARPU
Adding to the momentum of the RIL juggernaut, Jio's operating performance has remained robust. In the fourth quarter of FY26, the company's average revenue per user (ARPU) rose to Rs 214, supported by higher customer engagement and an improved subscriber mix.
The telecom operator added 9.1 million net subscribers during the quarter, taking its total subscriber base beyond 524 million. Monthly churn remained stable at 1.7%.
Data consumption also continued to rise, with per capita usage increasing to 42.3 GB per month and total data traffic growing around 35% year-on-year during the quarter.
5G and broadband drive growth
Jio's nationwide 5G rollout has emerged as another major growth driver. Its 5G subscriber base reached 268 million by March 2026, while 5G services accounted for around 55% of its total wireless data traffic.
The telecom subsidiary of one of India’s largest group of companies has also continued to expand its fixed broadband business. It added about 10 million subscribers during FY26, taking its total fixed broadband subscriber base to 27.1 million and giving it an estimated market share of around 43%.
Its Jio AirFiber service, with roughly 13 million subscribers, accounted for more than three-fourths of these additions. The company has also upgraded its fixed broadband offerings with non-line-of-sight hardware, enhanced television services and WiFi 6-enabled routers.
The telecom business has increasingly become central to Reliance's transformation from an energy-led conglomerate into a consumer technology and digital services company.
