Jio Platforms is looking beyond mobile connectivity to power its next phase of growth, setting its sights on 10 crore homes for broadband services and a $56-billion opportunity in India’s enterprise digital services market.
The company also plans to take its proprietary technology stack to overseas markets through partnerships, as it seeks to widen its revenue streams ahead of its much-anticipated stock market debut.
“The mission of Jio is to connect every Indian home, every Indian citizen and every Indian enterprise with the highest quality and most affordable digital services,” Akash Ambani, managing director of JPL, said in Mumbai while launching India’s biggest IPO.
Flanked by sister Isha Ambani, veteran banker Uday Kotak and CEO Pankaj Pawar, Ambani outlined four growth verticals for Jio — mobility, home broadband, enterprise services and monetisation of its end-to-end technology stack.
The next phase of expansion would be driven by its network infrastructure, proprietary technology and ability to deliver digital services to its large customer base.
The operator, India’s largest, has a customer base of 53 crore, with earnings before interest, taxes, depreciation and amortisation (EBITDA) north of ₹76,000 crore and growing at 17.8 per cent over the last three years.
Jio identified home broadband as its biggest growth engine, targeting an expansion of its home-pass footprint from around 4 crore homes to 10 crore homes across the nation, undeterred by possible competition from Elon Musk’s Starlink satellite communication.
Around 40 per cent of the company’s net additions are coming from outside tier 1 and 2 cities, while Jio accounts for approximately 67.5 per cent of India’s net fixed-broadband additions, Ambani said.
The company is looking to combine broadband connectivity with television and digital applications rather than offer internet access as a standalone service, he explained.
To expand its reach, Jio has developed proprietary technology operating in the unlicensed Wi-Fi spectrum band, which it calls UBR.
On mobility, Jio sees an opportunity to add around 31.4 crore subscribers, including approximately 10 crore first-time SIM users over the next five years and 24 crore customers migrating from 2G networks to 4G and 5G. Commenting on 6G rollout, Ambani said the transition would be through software upgrade rather than fresh infrastructure build.
In enterprise services, the company sees a $56-billion addressable market in India. It aims to capture a larger share of enterprise digital services beyond connectivity, with applications spanning banking, financial services, insurance and hospitality.
Ambani said Jio Platforms could partner with telecom operators in developed and developing countries to deploy its end-to-end technology stack, positioning the company as a managed-services partner rather than just a vendor or software-service provider.
He said Jio would select international partners carefully, focusing on opportunities that can contribute meaningfully to its financial performance and support the growth of partner businesses.