According to JM Financials' telecom industry report, India's major players, Reliance Jio and Bharti Airtel, are investing Rs 75000 crores in the current fiscal year..
In an effort to strengthen their network, Jio and Airtel, aim to bolster their network infrastructure with an investment of Rs 75000 crores.
As published by PTI, the report states that Jio may invest around Rs 42,000 crore and Bharti Airtel around Rs 33,000 crore in FY24, but the investment will taper down after their 5G network rollout target is met as per their announcement.
“Bharti’s management capex guidance implies India business capex could decline to approximately Rs 200 billion (Rs 20,000 crore) from FY25 (versus Rs 280 billion, or Rs 28,000 crore in FY23) though we continue to conservatively build in approximately Rs 270 billion (Rs 27,000 crore) for FY25 and Rs 330 billion (Rs 33,000 crore) for FY24,” the report said.
According to the report’s estimates, Jio’s anticipated capital expenditure for FY24 is approximately Rs 42,163 crores, with expectations of a potential decrease to around Rs 30,000 crore in FY25, reflecting a strategic financial shift.
Jio has unveiled an ambitious strategy to achieve nationwide 5G coverage by December 2023, with Bharti Airtel pursuing a similar goal, targeting completion by March 2024.
