Bharti Tele-Ventures Friday announced that it would invest Rs.15 billion ($342 million) this fiscal to expand its broadband and telephone services in 14 more towns spread over 10 circles.

"We will invest, over Rs.7 billion ($159 million) towards the rollout of services in 14 new towns in 10 circles," Bharti Tele-Ventures' joint managing director Rajan Bharti Mittal told reporters here.

"The remaining Rs.8 billion ($182 million) will be spent on further widening and expanding our existing network base," he said, adding that the company has one million subscribers for its broadband and fixed phone services.

The new towns where Bharti will set foot include Chandigarh, Mumbai, Ahmedabad, Hyderabad, Cochin, Kolkata, Lucknow, Ghaziabad, Pune, Agra, Meerut, Ludhiana, Jaipur and Jalandhar.

After the roll out, Bharti would achieve a pan-India footprint in broadband services, Mittal said, adding Bharti presently offers broadband and fixed phone services in 66 cities spread over 14 circles all over India.

The current outlay will take Bharti's cumulative investment in this sector to Rs.35 billion ($800 million).

Mittal said the company was now entering a phase of robust growth and expected to have over 2.5 million subscribers by March 2007. Bharti also hoped to connect 5,000 small towns and villages, using the wireless medium.