Mukesh Ambani says aim to double RJio revenue, EBITDA in 3-4 years
This story was originally published at 21:56 IST on 29 August 2024
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--Mukesh Ambani: Aim to double RJio revenue, EBITDA in 3-4 years
--Mukesh Ambani: RJio is among India's largest patent holders
--Mukesh Ambani: RJio optical fiber spread across 1.5 mln km in India
--Mukesh Ambani: RJio home broadbrand growing fastest in premium space
--Mukesh Ambani: Confident of achieving 100 mln home broadband users
--RIL: Jio Airfiber addressable market 200 mln homes
--RIL: Reliance Retail to foray into luxe jewellery segment
MUMBAI – Reliance Industries Ltd Chairman Mukesh Ambani today said the company aims to double Reliance Jio's revenues and earnings before interest, taxes, depreciation and amortisation, in three to four years. This growth is expected to be driven by the addition of users to the 5G network, expansion of home broadband services, and incorporation of artificial intelligence, Ambani said at Reliance Industries' annual general meeting.
Ambani said he is confident that the company will reach 100 mln home broadband users soon, with an aim of adding 1 mln users every month. There is a possibility of growth even beyond the first 100 mln homes as the company sees the total addressable market for home broadband services to be 200 mln homes.
The company launched the home broadband services, under the brand 'JioAirFiber', in October last year and has added over 2 mln users till now. Reliance Jio's optical fiber is now spread across 1.5 mln km in India with faster growth seen in premium homes, Ambani said.
As part of Jio's expansion plans, the company aims to bring the benefits of artificial intelligence to people, while keeping it affordable. Ambani said artificial intelligence should not be limited to high-end devices and must be accessible on all devices. This would be possible if the artificial intelligence services and data processed by it are hosted on the cloud, which would allow the users to access the data from anywhere using any device, Ambani said.
To facilitate this, Ambani announced that the company will provide 100 GB of free cloud storage to Jio users as a welcome offer. "And we will also have the most affordable prices in the market for those needing even higher storage," Ambani said. This welcome offer will be available to Jio users starting Diwali this year.
Ambani expects artificial intelligence to benefit consumers immensely in the coming years. With this in mind, Reliance Industries plans to build their own capabilities related to artificial intelligence. The company plans to set up data centres in Jamnagar, which will incorporate artificial intelligence and have capacities of gigawatt, Ambani said. Further, these data centres will be powered by RIL's green energy, Ambani said.
During the annual general meeting, the company announced several features related to televisions. Its JioTV+ feature will bring live television, on-demand shows, and applications on one platform. The company also unveiled Jio TvOS--an operating system for Jio set-top box for televisions. This operating system will have its own app store, and support high-end video and audio formats.
Ambani said Reliance Jio is among India's largest patent holders with over 350 patents in 5G and 6G technologies. Ambani pointed out these patents will help the company secure a place globally in innovation.
The retail business of Reliance Industries is expected to double in the next 3-4 years, Isha Ambani said during the annual general meeting. To achieve this, the company plans to expand the business to new geographies, and bring new products.
Reliance Retail plans to enter the luxury jewellery segment, Isha Ambani said. Apart from this, they plan to keep their focus on small and medium vendors, who they feel have the capability to help Reliance Retail's business grow rapidly. End
Reported by Anshul Choudhary
Edited by Saji George Titus and Rajeev Pai
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