The company will be paying Wipro on a monthly basis for 10 years.
Den has got 13 million subscribers; the whole idea is that even Wipro will leverage on the scale that we have and hopefully, we will build more scale as we go along.
Mohammad Ghulam Azhar
COO
DEN Networks
Wipro has bagged management services contract from DEN Networks Limited, a leading Indian cable distribution company, to revolutionise customer experience for the cable and broadband businesses of DEN Networks, thus creating a platform for the latter to leverage.
Mohammad Ghulam Azhar, COO, DEN Networks believes this partnership will evolve much stronger as they introduce more products and newer technologies. The company will be paying Wipro on a monthly basis for 10 years, he says in an interview with CNBC-TV18.
Also read: Wipro bags IT infrastructure deal from Corning
Below is the verbatim transcript of the interview:
Q: Could you walk us through what the size of this contract is which you have given to Wipro and what will be the amount Den has to pay to Wipro for this?
A: This is a fully managed 10 year end-to-end deal that we have signed with Wipro and the broader contours of the deal is its more of a opex based deal, something on the lines of what IBM had with Vati. Wipro is essentially going to create a cloud based platform through which Den will manage the entire subscriber management system, billing, customer relationship management, inventory and online payment gateway and the web interface. Essentially Den will pay on a per month basis over a 10 year period. So, Wipro has taken a strategic call on creating a cloud based platform for things to move in the changing B2C environment.
Q: Any more orders that you can give to any other IT based companies or Wipro or would this just be it for Den?
A: This is an end-to-end so we don't want to experiment too much with anything. the kind of partner that Wipro is and the kind of strategic call that they have taken on Den, I think this partnership will hopefully evolve much stronger as we sort of introduce more products, introduce newer technologies. Therefore, I am hoping that the relationship will go strength to strength rather than looking around for other partners.
Q: You said the payment will be perhaps on a monthly basis so could you tell us what will be the milestone for these payments or how will this deal work?
A: Like I said earlier, Wipro is putting in the entire investment and creating this platform for us to leverage. As you might be aware that Den has got huge scale in terms of 13 million subscribers, the whole idea is that even Wipro will leverage on the scale that we have and hopefully we will build more scale as we go along. So, on a per month basis the deal might make lot more sense over a longer period of time.
Q: You'll have also soft launched your broadband services we do understand in parts of Delhi and you'll are in the process of starting services in Uttar Pradesh as well. Can you just take us through when we could see it taking off completely?
A: We have been working on launching our high speed broadband services on DOCSIS 3.0 platform which is capable to deliver up to 300 mbps into consumer form and India hasn't seen the kind of speed that we are intending to offer to the consumer which will be a transformational life changing experience for the consumers. So, we are starting with Delhi because we had to work on evolving the whole ecosystem around designing and laying up the third party network by third party which possibly could be a scalable model. So, we have soft launched it in Delhi at this point and we will be scaling it to other parts of Delhi in the next six months and idea is to slowly move to other cities. We are starting off with some city in UP and then we will probably move to other cities as well.
Wipro stock price
On June 02, 2014, Wipro closed at Rs 499.10, down Rs 5.9, or 1.17 percent. The 52-week high of the share was Rs 610.50 and the 52-week low was Rs 315.30.
The company's trailing 12-month (TTM) EPS was at Rs 29.68 per share as per the quarter ended March 2014. The stock's price-to-earnings (P/E) ratio was 16.82. The latest book value of the company is Rs 98.21 per share. At current value, the price-to-book value of the company is 5.08.
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