Telecom gear maker GX Group expects its revenue to grow by 66 per cent to Rs 500 crore by financial year 2026, on account of growth in domestic business as well as exports, a top company official has said.
The company makes Gigabit Passive Optical Network (GPON) gears that are required to run fibre-based broadband networks. GX Group also makes routers and switches as well as Internet of Things (IoT) devices in India.
GX Group CEO Paritosh Prajapati told PTI that the company is looking to expand its manufacturing unit in India with an investment of Rs 100 crore in the current financial year.
According to him, benefits from the telecom production-linked incentive (PLI) scheme are one of the key growth drivers for the company.
“We have achieved a 40 per cent year-on-year (YoY) growth in consecutive years, supporting us to grow from a Rs 300 crore to a Rs 500 crore company within the next two financial years.
“We are planning to build India as our Global hub, therefore, we are transferring technology and knowledge and investing in our new research and development centre in Chennai,” Prajapati said. GX Group was the first telecom gear maker to meet PLI targets and receive the incentives from the government.
“We anticipate a 120 per cent export increase to major telcos in Africa, Europe and South East Asian countries, primarily by shifting from software to hardware export,” Prajapati said.
