YOU Telecom to invest Rs 428 crore in next two years

Indian broadband service provider YOU Telecom has revealed that they are planning to invest around Rs 428 crore in next two years to expand their presence in the tier-II cities across the country.

YOU Telecom CEO E V S Chakravarthy said in a statement on their plans: “We will invest Rs 400 crore in next one year to set up operations in additional 11 cities. The new cities will be mainly tier-II across the country.”

The company already provides their services in as many as 12 cities around the country including at, Ahmadabad, Rajkot, Mumbai, Hyderabad and Gurgaon.

Chakravarthy added: “Due to expansion of our business, we plan to touch a subscriber base of 6,00,000 in three years’ time.”

YOU Telecom further claims that they have a 7.5 per cent market share in India today which they wants to expand to 15 per cent in a period of three years.

The company also has plans to expand their presence in the international market. Chakravarthy said: “We have not finalized the investment details, but we will establish overseas operations by mid 2008.”