Date:26/04/2005 URL: http://www.thehindubusinessline.com/2005/04/26/stories/2005042601910401.htm

Back BPL Mobile expansion plans

Our Bureau

BANGALORE: BPL Mobile on Monday announced the launch of Project Rapid Growth with plans to add 1.5 million wirefree consumers in the current financial year, 2005-06.

Project Rapid Growth envisages an investment of Rs 625 crore and expected an increase in the revenues to Rs 1,300 crore and an operating profit to Rs 650 crore in 2005-2006.

The launch of Project Rapid Growth comes after `Operation Accelerated Clawback', which saw BPL Mobile achieve a record growth in 2004-05. Launched last year, the programme saw the company's revenues leapfrog 39 per cent to Rs 1,012 crore from the previous year's Rs 728 crore. This includes growth of over 50 per cent in monthly revenues in Maharashtra, Kerala and Tamil Nadu.

BPL Mobile's operating profit also grew by 42 per cent at Rs 406 crore (Rs 287 crore). Keeping pace with the overall market growth, BPL Mobile acquired half a million subscribers in Mumbai and over 1 million new subscribers across all its markets including Mumbai in the same period.

Announcing the success of Operation Accelerated Clawback, Mr Sandip Basu, President & CEO, BPL Mobile, said, " The recently introduced 1-second billing initiative along with our superior network experience have ensured record growth in revenue and subscriber base. The best demonstration of our successful strategy is that over 5,00,000 new customers in Mumbai and 1 million across all markets chose BPL Mobile."