Disclosures on content, Jio phone, project development costs accounting etc would be opportune. We value RJio at 10x Sep-20E EV/EBITDA at an EV of Rs 3tn (Rs 510/sh). Reliance Jios (RJio) subscriber additions (37mn in 2Q) and engagement (voice/data usage/sub) is healthy and steadily inching upward. Acquisition of leading cable companies- Hathway, Den and GTPL will fast-track home broadband acquisitions (Jio aspires 50mn).