Reliance JioFiber the FTTH Offering from Reliance Jio Infocomm has touched 1.14 Million at the end of April 2020. It was 1.08 Million at the end of March 2020.
All other wired / landline broadband ISPs lost subscribers and Jio was the only one to add 50K subscribers during lock down.
With slower than expected ramp-up so far, we further moderate our fibre-to-the-home (FTTH) subscriber assumptions to 1.6mn/2.5mn subs by FY21/22F (earlier 2.9mn/4.1 mn); however, we note that the company is targeting to connect 50mn homes and small businesses over the next three years if the company becomes aggressive on FTTH roll-out as we expect work from-home to gain traction in the post-COVID-19 era
