India's Vodafone Idea reaffirmed plans to grow revenue by double digits, triple cash EBITDA and invest 450 billion rupees ($4.72 billion) in its network over three years, CEO Abhijit Kishore said during an earnings call on Tuesday.
"The continued support from the promoters and our ongoing conversation with various sets of lenders gives us the confidence that we have the financial architecture in place to support our roadmap," Kishore said.
Also Read: Vodafone Idea secures Rs 6,400 crore in first funding tranche from SBI-led banks after AGR relief
Here are some key points:
The telecom operator is pursuing funding from public and private Indian banks and foreign lenders, and has already raised a 64 billion rupee tranche
It has placed network equipment orders worth about 90 billion rupees, with execution expected over the next two quarters or less
The firm plans to deploy about 3,500 4G sites a month, complete its 4G rollout across 17 key circles within about 18 months and expand 5G to another 200-plus cities over the next two quarters
The comments reiterate a strategy outlined in June, focused on sustaining subscriber additions, growing revenue and EBITDA over three years
Also Read: Vodafone Idea shares jump 3% after Q1 net loss narrows. What is Nomura saying?
Vodafone Idea reported a narrower first-quarter loss on Monday, helped by higher average revenue per user
India's third largest telecom provider is making moves to recover from a debt crisis that led to the government becoming its single largest shareholder, with a nearly 50% stake in 2025
($1 = 95.4350 Indian rupees)
