Excitel to invest Rs 38 cr for expansion in Mumbai

Internet service provider (ISP) Excitel is planning to invest USD 5 million (about Rs 38 crore) in the current year for the expansion of its services in the financial capital Mumbai, a top company official said.

The company offering broadband services has entered Mumbai, taking its overall network to 29 cities, and aims to replicate what it claimed an as a successful presence in Delhi, Hyderabad, and Bengaluru.

It can be noted that the segment of wired broadband at home spaces has seen a slew of activity lately with the launch of bundled plans by deep-pocketed Reliance Jio or Airtel which offer a bouquet that also includes streaming services like Netflix or Amazon Prime with a connection. ''We will be investing USD 5 million or Rs 38 crore this year in Mumbai,'' Excitel's Co-founder and chief executive Vivek Raina said.

The company plans to onboard subscribers in the suburbs of the city and also in the satellite city of Navi Mumbai, a statement said.

It is offering 400 Mbps lines and the monthly charges for a connection start from Rs 423, it added.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)