Videocon Telecom aims at Rs 10k Cr from New Ventures by 2020

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Videocon Telecom made an announcement on Thursday, 25 February regarding its plans for generating a revenue of Rs 10,000 crore by 2020. This is going to be from its newly acquired businesses. The company stated that it is going to be investing in non-spectrum businesses in the future given the short lifespan of small players like them in the GSM telecom business.

According to Videocon’s Telecom Director & CEO, Arvind Bali, the GSM segment has limited scope hence the company will not be bidding for spectrum in the forthcoming auctions. He also said that Videocon is going to be investing in non-spectrum businesses primarily in the enterprise segment or new products that are more synchronised with other businesses of Videocon Group.

Mr Bali stressed that “we have started a new vertical a few months back, which is called emerging business. Our objective is to add multiple business lines into that and grow it to achieve a revenue of Rs 10,000 crore by 2020.”  He also said that the main aim of his visit to Mobile World Congress was to maximise tie ups for upcoming business. Videocon Telecom has entered into an MoU for emerging businesses there.

Mr Bali also stated that in order to boost the company’s non-spectrum business, it is aiming at acquiring smaller companies in the field of information technology and manufacturing etc. The company is also expanding its fibre to home business to states like Haryana and Himachal Pradesh. Videocon is currently operating in Punjab and has a 6000 kilometre fibre network there.