ACT Fibernet does a Google Fiber in India; launches 1Gbps broadband in Hyderabad

GTPL Hathway  | In FY21 so far, the stock price has gained 237 percent to Rs 137.35 as of October 14. The company's FY20 total debt reduced by 49 percent to Rs 148 crore compared to its previous fiscal year while it has witnessed decent sales and profit growth of 91 percent and 253 percent respectively.

Hyderabad, the Pearl City of India, has now become the country's first "Giga city". ACT Fibernet, which claims to be the largest non-telco and third-largest internet service provider in India, has launched 1Gbps wired broadband internet service in the city.

With its first Giga speed broadband, Hyderabad has catapulted its internet speed to 400 times the national average, which still hovers around 2.5Mbps. The launch also elevates Hyderabad into an exclusive and elite club of Giga-enabled territories which include South Korea, US, Hong Kong, Singapore, Romania and Japan.

At Rs 5,999 per month, a user can download data up to 1TB at 1Gbps under fair usage policy (FUP), which is faster than even transferring data from a USB drive. Post the FUP, limit the speeds will drop to 10Mbps.

Speaking at the launch Bala Malladi, Chief Executive Officer of ACT Fibernet, said, “With our citizens and the government moving towards the Digital India movement, high speed internet is the need of the hour.”

K. Taraka Rama Rao, Minister for IT, Municipal Administration and Urban development and Industries, was also present at the event

ACT Fibernet, which is the largest broadband provider in twin cities of Hyderabad and Secunderabad with over 65 percent market share, has invested about Rs 100 crore into this service. It currently plans to launch the service in 10 other cities where it has a presence and has earmarked around Rs 1,200 crore to be invested over the next two years.

With more than 400 million people having access to the internet, India is the second-largest market for internet in the world.