iBus Networks eyes ₹2,000 cr revenue by 2028, bets on digitization of buildings

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Subscribe to enjoy similar stories. New Delhi: Bengaluru-based iBus Networks is aiming for a revenue of ₹2,000 crore in the next four to five years, with Ebitda (earnings before interest, taxes, depreciation and amortization) of ₹500 crore, as it looks to become an infrastructure tech company by offering digital solutions for last-mile connectivity. Ram Sellaratnam, co-founder and chief executive officer (CEO) at iBus Networks, told Mint in an exclusive interaction that the company was looking at Ebitda of around ₹120 crore by FY26, with a revenue ₹400-450 crore.

For FY25, the company expects a revenue of nearly ₹290 crore. The Morgan Stanley Infrastructure Partners-backed company that specializes in offering Wi-Fi and Internet connectivity within buildings, plans to ride the big demand for digitization of real estate across India. Also read | Redington plans a marketplace makeover with software, cloud “About 90 million sq.

ft of real estate is coming up every year that has to be digitized, which is double of what it was three to four years ago. We’re putting together the stack, which requires a convergence of both Wi-Fi and mobility networks, and offers security. It will be made in India for not just India but for the world," Sellaratnam said.

Part of the digitization opportunity will come from brownfield or existing buildings, which have to be equipped with Wi-Fi solutions. These include, for instance, hospitals and government buildings such as the Supreme Court or the Reserve Bank of India, and other public sector entities that rely on digital infrastructure to provide services to people. “We see a huge potential there.