Gurdeep Singh's Netplus Broadband business clocks 30 per cent growth at Rs 286 crore in FY' 22

New Delhi [India] June 23 (ANI/NewsVoir): NetplusBroadband, Internet Arm of Fastway Transmissions which is the fastest growing broadband service network successfully achieved a 6 lac subscriber base and a phenomenal growth of 30 per cent in profit margin, over the financial year 2020-21.
The company's revenue grew over the previous year and the total turnover was Rs 286 cr in the financial year 2021-22 over an increase of 36 per cent as compared to the last year 2020-21 where the company clocked Rs 210 cr.
Netplus User base also grew by 50 per cent over the last financial year and crossed a subscriber base of 6 lakh. Additionally, consistent technological development along with focus on customer reach and service delivery resulted in increase in EBITDA by 30 per cent approx. as compared to last year i.e. 2020-2021 FY.
The fastest-growing broadband service provider offers next-gen services including high-speed broadband, smart telephony and OTT services.
According to recent reports, India has more than doubled its mobile broadband subscribers from 345mn to 765mn in the last five years. Report of 2022 reveals that with the Compounded Annual Growth Rate (CAGR) of 53 per cent over the last five years, India has one of the highest data usage in the world. The growing number of data users and consumption per user is helping the country advance towards realizing the vision of Digital India.
Fastway Netplus Broadband has already gathered momentum by gaining satisfied subscribers within a short span. However, the brand has extensive growth plans including the launch of futuristic products for the subscribers besides already having in place FTTH network which is the foundation of the broadband and internet business. Additionally, the brand has been successful in serving enterprise customers.
Expressing his delight, Jujhar Group CMD S. Gurdeep Singh said, "Previous Fiscal year has been a year of strong growth both in terms of top line and bottom line. This all round growth is a result of our aggressive business expansion, commitment to customer delight and trust of our users. Netplus is the dominant market leader and is the first choice for broadband users in the region. Our endeavor has always been to create substantial value for all our stakeholders and be among the best in the business of delivering Next Generation Services. We intend to maintain the growth momentum in the ensuing fiscal too."
Arshdeep Singh Mundi, Managing Director, Netplus Broadband, "We take pride in establishing Netplus as one of the fastest-growing ISPs in the country. Our core strengths lie in providing high-speed -truly unlimited data at affordable prices. Customer centricity, quality services, and adoption of the latest technology practices have been the key drivers of this phenomenal growth. We command the dominant market leader in the region and serve every second home with our services. We would like to thank our subscribers for their trust and are committed to delivering the latest and best-in-class services, going forward. Through aggressive organic and inorganic initiatives, we are poised to achieve the 1 million mark very soon," he added.
Prem Ojha CEO Netplus Broadband further said, "We are focused on service expansion and have over 6 million home passes across 8 states. We intend to take our services to PAN India in the current fiscal. We are investing heavily in creating world-class fiber infrastructure to support futuristic converged services. The journey ahead will include a focused expansion of services in the rural areas to continue on this growth trajectory."
The company's services span 400+ cities by the virtue of more than 14k+ channel partners. Catering to the areas of Punjab, Himachal Pradesh, Haryana, Chandigarh, Rajasthan, Uttar Pradesh, Uttarakhand, and Jammu & Kashmir, Netplus has more than 2000 enterprise customers and is a recognized organization directly involved in providing Wi-Fi solutions under Government Smart City Projects.
Netplus Broadband, The ICT - (Information, Communication & Technology) business of Jujhar Group spearheaded by CMD S. Gurdeep Singh. The group has a legacy of over 30 years of business excellence. Jujhar Group of companies operates across verticals - Logistics, Hospitality, Real Estate, Digital entertainment, and next-generation services.
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