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BPL Mobile to invest Rs 62.5 cr in Mumbai

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CIOL Bureau
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PUNE: Riding on the back of Operation Accelerated Clawback, BPL Mobile has launched Project Rapid Growth, with plans to add 1.5 million wirefree consumers in the current financial year. Project Rapid Growth envisages an investment of Rs 62.5 crore and an expected increase in the company's revenues to Rs 130 crore and operating profits to Rs 65 crore in 2005-2006.






The launch of Project Rapid Growth comes post Operation Accelerated Clawback, which saw BPL Mobile achieve growth in the FY 2004-05. Launched last year, `Operation Accelerated Clawback' has seen the company's revenues in fiscal 2004-05 leapfrog 39 percent to Rs 101.22 crore from the previous year's Rs 72.85 crore. Its operating profits also grew by 42 percent at Rs 40.66 crore (Rs 28.87 crore).





BPL Mobile president and CEO Sandip Basu said, "Operation Accelerated Clawback triggered a phase of unprecedented growth in the decade long history of BPL Mobile. The recently introduced one-second billing initiative along with our superior network experience has ensured record growth in revenue and subscriber base."





"We intend to add 225 new towns, Two intelligent networks and add over 800 base stations in this fiscal. With Project Rapid Growth, BPL Mobile aims to capture 35 percent market share in new customer acquisition in all its markets,'' added BPL Mobile business operations EVP Krishna Angara.





The company plans to invest in latest generation services such as EDGE. In line with being the world's largest roaming service provider, the company also plans to provide the largest footprint for data and multi media roaming in the country. BPL Mobile will also increase its presence in the market by adding 1,500 sales staff and also roll out 50 additional galleries through the franchise model.






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