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NEW DELHI: Excitel<\/a>, one of India's broadband<\/a> service providers, said that it expects to acquire as many as 2.5 million subscribers across 100 cities in next two years, and is currently spending the recent funding in expansion programs.\"We will be in at least top 100 cities of the country, with 2-2.5 million customer base. That's the aim for the next two years,\" Vivek Raina, Co-founder & CEO, Excitel, told ETTelecom.
Presently, the company has more than 7.5 lakh subscribers across 30 cities with Mumbai being the latest addition.
\"By the end of this year, we have to cross a million mark. This is what we promised to our investors. We took another round of funding of around Rs 100 crores, 3-4 months back. We were then at around 5.5 lakh subscriber base,\" the top executive said.
The Delhi-based Internet<\/a> firm is 100% owned by the Netherlands-based holding company, and raised money mostly from private equity or PE funds in Europe.
The most of the money would go on expansion programs, and converting nearly 15% of the legacy copper-based network to optical fiber cable<\/a>.
\"We don't want copper at all in our ecosystem, and want to provide a world class fibre to home services with speeds starting from 200 mbps to these households living in the unorganised India or Bharat, as we call it, at a maximum of Rs 500 average revenue per user (ARPU).\" Raina said.
The service provider is expanding its business in unplanned residential localities in cities, saying that it aims to provide high-speed Internet access to those who are beyond the operational coverage of incumbent telecom carriers such as Reliance Jio and Bharti Airtel.