The shares of one of the leading telecom services providers with a 32.78 percent market share in green after it entered into a strategic partnership for powering up to 20 million smart meters.
At 2:50 p.m. the shares of Bharti Airtel Limited were trading at Rs. 977.20, up 0.58 percent from its previous day’s close price of Rs. 971.55 and its market capitalization is Rs. 5,49,388 Crores.
Bharti Airtel Limited has formed a strategic partnership with Intellismart Infrastructure Private Limited to power up to 20 million smart meters by offering end-to-end IoT solutions for smart metering including head-end system, Meter data management system, Cloud, and Analytics
This is the largest such deal in the smart metering space in the country. It will significantly contribute towards Airtel’s fast-growing IoT deployment across sectors, it also marks Airtel’s foray into high-end applications such as advanced metering infrastructure and meter data management systems along with Cloud and Analytics.
Airtel’s IoT proposition includes its proprietary platform the “Airtel IoT Hub” which will help the utility track and monitor these smart meters with advanced analytics while maintaining extremely high reliability augmented with telco-grade security.
Housed on Airtel’s cloud network, the IoT hub will allow enterprise users the capability to connect and manage billions of devices and applications in a highly secure and seamless fashion.
Ganesh Lakshminarayanan – CEO, of Airtel Business (India) about the venture said “We have further strengthened our market leadership as the largest IoT enabler in the country.
IoT is one of the fastest-growing business segments for Airtel Business and, with this deal, we are now strategically positioned to play a pivotal role in driving the Govt. of India’s vision of digitizing 250 million conventional meters to smart meters. As we connect the devices across the country on our platform, we will exponentially grow our current IoT market share of 55.4 percent.
Bharti Airtel Limited is a global telecommunication company engaged in providing products and services through segments such as mobile services, airtel business, home services, digital TV services, and many more. It has a global presence with operations in 16 countries with 530+ million customers.
It has a market share of 32.74 percent in telecom services with 260.4k towers, 11 data centers, 120 edge DCs, 7 submarine cables, 1.2 lakh crore of spectrum investment, 400k+ RKms of domestic fiber, and 365k+ RKms of global fiber network. Airtel’s 5G rollout is on track, and the company expects some moderation in capex in the coming year
The company’s revenue from operations grew 19.39 percent from Rs. 1,16,546.9 Crores in FY22 to Rs. 1,39,144.8 Crores in FY23, accompanied by increasing profits of Rs. 4,254.9 Crores to Rs. 8,345.9 Crores.
Written by: Bharath K.S
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