Uninor, the fully-owned subsidiary of the Norway-based Telenor group, is planning to invest Rs 500 crore this calendar year as part of its expansion strategy.
The telecom operator recently announced the completion of its largest-ever network expansion in a single year. It deployed 5,000 additional network sites across six circles of operations, including Uttar Pradesh (East and West), Bihar, AP, Maharashtra and Gujarat. The company is targeting 50 million customers by the end of this calendar year from 37 million currently.
Uninor reported a 38% improvement in gross revenue in Q3 2014 despite the challenging operating environment.
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