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Andrew Bonwick
Vice President of Product Development at Relm Insurance
Madhav Sheth
CEO of Ai+ Smartphone
Stephen Rose
CEO Render Networks
American Tower Corporation (ATC), one of the leading infrastructure providers engaged in the telecom space is set to build around 3500 new tower sites in India by the end of 2020. The development was shared by Rod Smith, executive vice president of ATC in the third quarter earnings call on Thursday. In its third quarter of the current fiscal year, ATC registered a 3% increase in its total revenues to US$2,013 million. However, the company said that its net income decreased 8.4% to US$463 million for its third quarter ended September 30, 2020.
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ATC Built Close to 1,000 Sites in India in Third Quarter
Tom Bartlett, president and CEO of ATC, said in the earnings call that the Indian telecom market is “very strong” and that the operators are now looking beyond the adjusted gross revenue (AGR) case.
“I think there has been a general slowdown overall, not just regards to COVID, but I think also with regard to clearing through a lot of the AGR, a lot of tax issues, I think that put a slowdown,” Bartlett said in the earnings call on Thursday. “But hopefully, much of that will be behind us and the carriers I know are really starting to think about and move forward in terms of looking to increase kind of rates of growth going forward.”
Further, Smith said that the ATC “built just shy of a thousand towers in India in the quarter” ended September 30, 2020 and that the company witnessed close to 14% in returns.
