RIL remains committed toward 4G LTE: Mukesh D Ambani

Telecom Lead India: Reliance Industries (RIL) Chairman
and Managing Director Mukesh D Ambani said the group remains committed towards
providing world class, high speed wireless data services through the launch of
broadband access business.

RIL on Friday said its subsidiary Infotel Broadband Services
is in the process of setting up a broadband wireless network using advanced

It is in the process of finalizing the arrangement with
leading global technology players, service providers, infrastructure providers,
application developers, device manufacturers and others to help usher the 4G
revolution into India.

In January, Infotel Broadband Services entered into an
agreement with TV18 and Network18 Media and Investments (Network18) for
preferential access to all their content for distribution through the 4G
broadband network being set up by it.

RIL on Friday said its turnover increased by 31.4 percent to
Rs 339,792 crore in fiscal 2012-13. Its net profit decreased by 1.2 percent to
Rs 20,040 crore.

Our businesses have delivered industry leading
performances. This is a reflection of the quality of our assets and growing
demand for our products and services in India and internationally. We have
created a strong foundation for future growth and are investing in our core
upstream and petrochemical businesses in India. Response to our organized
retail business has been very encouraging and we continue to expand our
footprint by building more stores across verticals, formats and geographies. We
remain committed towards providing world class, high speed wireless data
services through the launch of our broadband access business,” said Mukesh D.
Ambani, chairman and managing director, Reliance Industries.

Infotel Broadband Services has BWA spectrum to run 4G LTE
services in all the 22 circles in India.

RIL’s consumer-centric and knowledge-based businesses face
certain challenges, which it may need to overcome to create value, according to
a June 2011 report of Kotak Institutional Equities Research by Sanjeev Prasad,
Gundeep Singh and Tarun Lakhotia.

RIL spent around Rs 17,600 crore for the pan-India wireless
broadband spectrum. It committed to invest $5 billion in the first two years.

In November, it acquired 38.5 percent stake in Extramarks
Education, a company focused on school education and digital learning, for an
undisclosed amount.

Bharti Airtel launched 4G services on April 10. Customers are
waiting for final action from Mukesh Ambani and team for the real broadband

[email protected]