HYDERABAD : Act Fibernet launched 1 Gbps wired broadband internet connection for the first time in India in Hyderabad on Thursday. With this, ACT (Atria Convergence Technologies) Fibernet, the third largest ISP in the wired broadband category after BSNL and Airtel, has become the first Internet Service Provider (ISP) to launch 1 Gbps wired broadband connection in India.
With 1.2 million customers, ACT is the largest non-telco ISP in the country and with an estimated turnover of about Rs 1,200 crore.
“Now India is on par with very few developed nations in case of high speed internet connection,” said Bala Malladi, CEO of ACT Fibernet.
ACT Fibernet has been working over the past one year to launch 1 Gbps internet connection initially in Hyderabad and will gradually introduce the service to other cities.
“We are growing between 25 and 40 percent year-on-year over the past five years and we expect the same growth rate in the future. Right now we have strong presence in Bengaluru, Hyderabad and Chennai and recently we entered the Delhi market,” said Malladi.
Adding, “We are planning to get into newer cities and expand our customer base. We are planning to allocate about Rs 1,000 crore towards capital expenditure over the next 18 months for expansion.”