IDEA applies for Mumbai circle

Category: News | No Comments | Posted on December 5, 2005

IDEA Cellular announced its plans to enter the Mumbai cellular market and said the company would be investing Rs 1,200 crore in next six month to upgrade its network in the existing 8 circles.

“We have applied for a licence for Mumbai and hope to start services soon,” CEO of IDEA Cellular Vikram Mehmi said, adding that starting services in Mumbai will be a strategic move as the company is operation in Maharashtra, Madhya Pradesh and Delhi.

Claiming to have a 10% market share in the cellular telephony, Mehmi also indicated that the company may go for domestic long distance operations (STD).

IDEA Cellular made a net profit of Rs 70 crore last fiscal and hopes to double the profits in the current financial year.

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