Reliance Jio Crosses 524 Million Users As Mukesh Ambani Announces IPO Filing, Satellite Broadband Push At 49th AGM

Reliance Jio has crossed 524 million users, cementing its position as India's largest telecom operator, chairman Mukesh Ambani announced in his shareholder letter at the company's Annual General Meeting today. This was announced alongside a sweeping set of new commitments spanning IPO filing, 5G, satellite internet, and AI.

Subscriber numbers headline a blockbuster year

A decade after Jio's launch, the operator's scale has reached levels Ambani himself called 'extraordinary.' Beyond the 524 million overall user base, Jio's 5G subscriber count has crossed 268 million, the largest for any single-country operator outside China, with 77 million net additions over the past year alone.

The company's home broadband arm, JioAirFiber, has also continued its rapid expansion. Having already become the world's largest fixed wireless broadband operator, JioAirFiber now connects 13 million homes across the country. Total data traffic on Jio's network hit 241 exabytes in FY26, up 30.8 percent year-on-year, placing the company among the largest data carriers globally.

Financials post record numbers

The subscriber growth translated directly into Jio Platforms' best financial year yet. Revenue came in at Rs. 1,46,885 crore ($15.5 billion), up 14.6 percent year-on-year, while EBITDA rose 18.8 percent to Rs. 76,255 crore ($8.0 billion), with margins improving by 190 basis points to 51.9 percent. For the first time in the company's history, profit after tax crossed Rs. 30,000 crore ($3.2 billion), growing 15.1 percent over the previous year.

Five commitments for Jio's next chapter

Ambani used the letter to lay out what he described as five commitments shaping Jio's next phase of growth:

- 5G as the backbone of digital India: Jio is targeting a full migration of all subscribers to 5G by 2030, backed by dedicated network slicing and a cyclic beam-formed cell design aimed at boosting coverage in high-footfall areas, while also pushing India's leadership in emerging 6G standards.

- Expanding JioAirFiber nationwide: A new non-line-of-sight capability is extending home broadband to areas where fibre was never viable, with over 90% of installations completed within 24 hours and new connections growing at up to 60,000 per day. Per capita data usage has climbed to 42.3 GB per month, among the highest in the world.

- Digitising small businesses: The JioPC initiative aims to deliver cloud computing to small and medium businesses through a simple set-top box, bringing enterprise-grade tech within reach of India's MSME sector.

- AI for everyone, everywhere: Jio is embedding AI across its consumer and network stack, with Ambani pointing to smarter customer service, more efficient networks, and more personalised user experiences as near-term payoffs, alongside an expectation that premium 5G and AI-bundled services will drive ARPU growth.

- Exporting India's tech stack: Jio's in-house deep-tech stack, built for 5G, fixed wireless access, and AI, is now ready for deployment with international partners, positioning exports as a future pillar of the business.

A new frontier: satellite connectivity

Perhaps the most forward-looking announcement was Jio's satellite ambitions. Ambani said the company is evaluating a sovereign Low Earth Orbit satellite constellation for India, designed to extend connectivity to remote villages, island communities, and border outposts beyond the reach of Jio's terrestrial network.

In the near term, Jio plans to lease capacity from established global satellite constellation providers to accelerate service availability, even as it builds toward long-term sovereign capability. To support this, the company is also constructing its own ground station infrastructure in India, designed to serve both partner constellations and Jio's own future satellites, forming what Ambani called an end-to-end satellite broadband ecosystem 'from space to ground.'

Ambani framed the satellite push as a step toward India's self-reliance in space technology, positioning Jio on the global satellite broadband map alongside the likes of Starlink and OneWeb.

"All these initiatives show that the best of Jio is yet to come," Ambani wrote in closing his letter to shareholders.

Published on: Friday, June 19, 2026, 03:28 PM IST