Telecom mast operator Indus Towers today said it will continue its focus on consolidation rather than building new sites and the company aims to achieve a tenancy ratio of 2.0 by the end of this financial year.
"The current tenancy ratio is 1.9 and Indus is looking at increasing their tenancy ratios to 2.0 by the end of this financial year," Indus Towers said in an e-mailed statement to PTI.
Tenancy ratio refers to the number of tenants (operators) who have put up their antennae and other active infrastructure on the towers.
"As the rest of the industry, Indus will focus less on new build and more on adding sharing operators on existing sites," it added.
However, the company said it will continue to make substantial efforts to expand its reach in rural areas as well as urban areas, depending on customer requirements.
"Capex will not be a limiting factor in our quest for further enlarging our scale of operations," Indus added.
Indus Towers is a joint venture company of Bharti Group, Idea Group and Vodafone Essar. Vodafone Essar and Bharti Group hold 42% stake each in the company and Idea Group has the remaining 16%.
The three stakeholders have earlier this month completed the merger of their tower assets with Indus Towers.
Indus has 111,819 towers in 15 circles across the country and has achieved 221,511 tenancies.
Asked about the IPO plans, Indus said: "We have completed the merger process in June 2013. However, the decision for IPO lies on the shareholders."
