Bharti Airtel Ltd on January 03, 2008 has announced that it has signed a Memorandum of Understanding (MoU) with VeriSign, Inc., the leading provider of Internet infrastructure for the networked world. The companies agreed to form a strategic market partnership to jointly launch best-in-class security services, to deliver VeriSign's identity protection, managed security and fraud detection services, and to support the development of the next-generation Internet infrastructure in the Indian market.
Under this arrangement, Bharti Airtel will become VeriSign's Strategic Market Partner and will deploy VeriSign's world class services in India, Bharti Airtel's strong in-country support and expertise. These services aim to revolutionise the way enterprises, small and medium-sized businesses, and consumers harness the power of the Internet and develop new applications that leverage the convergence of mobile and internet platforms.
Additionally, as a part of the partnership, Bharti Airtel will utilise a number of VeriSign's capabilities, including VeriSign Identity Protection (VIP) services to significantly improve the internal capabilities of its own infrastructure and to better serve its growing customer base.
Dr. Jai Menon, Director - IT & Innovation and Group Chief Information Officer of Airtel, said, "The partnership with VeriSign demonstrates our intent to create a globally-admired telecommunications company. Our combined strength will provide the Indian market with the latest Internet and IP infrastructure services, strongly supported by our local resources. We look forward to seeing the benefits of these services internally and for our customers."
January 3, 2008
Bharti Airtel - Airtel Signs with VeriSign®
Bharti Airtel Prepaid changes
Bharti Airtel Ltd on January 02, 2008 has announced that it has reduced its local outgoing call tariffs to Re 1/- per minute. With effect from January 03 2008, *all Airtel prepaid mobile customers whose existing local call rates are more than Re 1 per minute will be migrated to the revised tariff of Re 1 per minute without any conditions attached. This applies to any local call made from an Airtel prepaid mobile to an Airtel mobile, an Airtel prepaid mobile to any other mobile network in the same circle & an Airtel prepaid mobile to any local landline number. This is a significant initiative that further reinforces Airtel's commitment to make mobile communication more affordable and provide greater value to its customers. This benefit will be extended to the postpaid customer segment within the next week. *However, this tariff change is not applicable to 495 Life time prepaid customers and other customers enjoying special benefits like Happy Recharge.
Mr. Sanjay Kapoor, President, Mobile Services, Airtel said, "As an industry leader, Airtel has always been at the forefront of driving affordability and expanding the market. This initiative marks our strategic intent to simplify tariffs and differentiate ourselves in a market already cluttered with multiple tariff plans. Going forward, we will continue to explore innovative and affordable tariff options that are aimed to speed up growth, enhance customer value and significantly contribute towards increasing our market and revenue share in the future."
Airtel has been the front runner in ushering in simplified and affordable tariffs to the Indian telecom market. In the past, Airtel has launched highly successful products such as the Lifetime prepaid and its extensions - Easy Lifetime and Super Lifetime that has driven affordability and expanded the Indian telecom market. This initiative marks the beginning of a series of steps being planned by Airtel to usher in simplified and affordable tariffs that will be appeal to customers across all segments and geographies.
December 28, 2007
Bharti Airtel - Leading International Investors Pick Stake Worth USD 1 Billion in Bharti Infratel
Bharti Airtel Ltd has announced that the Bharti Infratel, a wholly owned subsidiary of the Company, on December 28, 2007 announced that leading International investors have agreed to invest USD One Billion in Bharti Infratel. The International investors are Temasek Holdings, The Investment Corporation of Dubai (ICD), Goldman Sachs, Macquarie, AIF Capital, Citigroup & India Equity Partners (IEP), with Temasek Holdings being the largest investor.
The enterprise valuation has been agreed to be in the range of USD 10 to 12.5 Billion, and the final valuation, within this range, will be determined on the basis of Bharti Infratel's actual operating performance in FY 2008-09. This placement highlights the confidence of leading global investors in the Indian telecom sector, which is now the fastest growing telecom market in the world and the Bharti Group. It is also an endorsement of the Government's visionary policy on sharing of passive infrastructure.
Bharti Infratel owns close to 20,000 sites and holds approximately 42% stake in Indus Towers, the recently announced joint venture between Bharti, Vodafone and Idea, which has over 70,000 sites. Bharti Infratel and Indus Towers will provide passive infrastructure services to all wireless telecom operators in India on a non-discriminatory basis. Sharing of passive infrastructure results in capex and opex savings and higher capital efficiency for all wireless operators, enabling quicker roll out of services especially in rural areas, thus benefiting millions of people across India.
November 29, 2007
Bharti Airtel & Western Union to pilot Mobile Money Transfer Service in India
Bharti Airtel Ltd has announced that in a first-of-its kind agreement, Bharti Airtel and Western Union have decided to jointly develop and pilot a Mobile Money Transfer service in India. This pioneering agreement will usher in the possibility of sending money to India via the mobile phone. Western Union agents presently provide cash remittance services in India. The mobile money transfer service is subject to regulatory approval.
According to The World Bank, the number of immigrants globally is in the region of 200 million - approximately 3% of the world's population. The World Bank also identifies India as the number one remittance recipient market. Statistics from RBI (Reserve Bank of India) suggest that the inward annual remittance into India stood at over $26 billion for the financial year 2006 - 2007, accounting for 10% of global inward remittance market, which stands at $260 billion.
"We are delighted to work with Western Union in this path-breaking initiative and be at the forefront of enabling international remittance over the mobile for our 50 million mobile phone customers in India. This will help us move remittances via the mobile in a fast and convenient way, supporting low value transactions," said Mr. Gopal Vittal, Director Marketing & Communications, Bharti Airtel Ltd.
Bharti Airtel has an extensive footprint across India and Western Union, together with its affiliates Orlandi Valuta and Vigo, has more than 320,000 agent locations in more than 200 countries and territories. In India, Western Union operates through 45,000 agent locations, including 8,500 post offices and more than 14,000 bank branches across 5000 towns and cities. This programme will enable Indians living abroad to send remittances to their dependents in India in an easy and convenient fashion through the vast networks of both the Companies.
The reach and accessibility of mobile networks in developing economies create new opportunities to extend the benefits of financial services to many families for the first time. Mobile networks now cover the majority of the world's population. Applications that allow a mobile subscriber to view and manage funds on their handset are emerging in select countries as foundation for phone-based financial services.
The relationship with Bharti Airtel developed follows a landmark agreement between Western Union and the GSM Association (GSMA), a global trade association representing over 700 GSM mobile phone operators, to facilitate the development of cross-border mobile money transfer services. Bharti Airtel chairs the GSM Association's Mobile Money Transfer steering committee, a group of 35 mobile network operators committed to development, trials and commercialization of mobile remittance services.
October 31, 2007
Bharti Airtel Q2FY07 Results
Bharti Airtel Ltd has announced the following Audited results for the quarter ended September 30, 2007:
The Company has posted a net profit of Rs 16191.50 million for the quarter ended September 30, 2007 as compared to Rs 8883.50 million for the quarter ended September 30, 2006. Total Revenue has increased from Rs 42129.80 million for the quarter ended September 30, 2006 to Rs 61185.30 million for the quarter ended September 30, 2007.
The Consolidated results as per Indian Generally Accepted Accounting Principles (IGAAP) are as follows:
The Group has posted a net profit of Rs 16437.60 million for the quarter ended September 30, 2007 as compared to Rs 8788.40 million for the quarter ended September 30, 2006. Total Income has increased from Rs 43630.30 million for the quarter ended September 30, 2006 to Rs 63867.30 million for the quarter ended September 30, 2007.
The Consolidated results as per United States Generally Accepted Accounting Principles (US GAAP) are as follows:
The Group has posted a net income of Rs 16139.30 million for the quarter ended September 30, 2007 as compared to Rs 9338.20 million for the quarter ended September 30, 2006. Total Revenues has increased from Rs 43571.40 million for the quarter ended September 30, 2006 to Rs 63374.00 million for the quarter ended September 30, 2007.
The figures for the quarter ended September 30, 2006 Consolidated results as per United States Generally Accepted Accounting Principles (US GAAP) are Unaudited.
October 8, 2007
Bharti Airtel to bridge digital divide
Bharti Airtel Ltd has announced that it will partner with the Government of Gujarat in the prestigious eGRAM Connectivity Infrastructure Project. Under this first-of-its kind project in the Country, the Company will set up telecom infrastructure to connect 13,716 Village Panchayats and Common Service Centre in the state. Once connected, the Panchayat Offices / eGRAMs are expected to form a powerful socio-economic network supporting information dissemination and faciltating a e-governance initiatives in the state.
The MOU commissioning the project was signed in Ahmedabad on October 07, 2007 between Company and Panchayat, Rural Housing & Rural Development Department, Government of Gujarat in the presence of Mr. Narendra Modi, Hon'ble Chief Minister of Gujarat and Mr. Manoj Kohli, President and CEO of the Company.
Commenting on this significant partnership, Mr. Manoj Kohli, President & CEO of the Company said, "We are delighted to partner with the Govt. of Gujarat in innovative and novel project of empowering its citizens. This partnership reiterates Airtel's endeavor to collaborate with the Government's e-governance plans and efforts to bridge the "digital divide" by providing connectivity to the rural masses. The e-enabling of the state is an important step as the country moves into the net phase of economic growth."
The Company has designed a comprehensive VSAT-based solution to provide last mile connectivity to these villages. The Company was chosen for this project owing to this unique VSAT-based last mile solution backed by a strong delivery plan to reach out to the rural masses. The project roll-out is expected to take place in a fast-track mode with completion slated for March 2008. The project also assumes significance for the Company as it clearly puts it in a leadership position in the VSAT space.
The project linking 13,716 Village Panchayats and Common Service Centres located in the remote corner of the state will ensure high quality and cost-effective video, voice and data services in the areas of agriculture, e-governance, health, education etc. at Village Panchayats. The connectivity will also facilitate point to point and point to multi-point video conference services, VOIP services and intra & Internet services from these village panchayats and Common Service Centres.
The Company has been consistently focusing on enhancing telecom penetration in rural areas of the country to bring a true telecom revolution. The Company has been constantly innovating to utilise technology to the fullest for the benefit of the rural populace and this project is another significant step in this direction
October 3, 2007
Bharti Airtel
Bharti Airtel Ltd has informed that the Company has completed all the formalities relating to the acquisition of Network i2i Ltd, Mauritius on September 28, 2007 and on acquisition Network i2i Ltd has now become the wholly owned subsidiary of the Company.