| Unitech joins telecom bandwagon |
| BS Reporter / New Delhi September 22, 2007 |
| The country's second-largest real estate firm Unitech Ltd said it would apply to the Department of Telecom (DoT) for a countrywide telecom licence, a declaration that adds to long list of companies that have lined up to enter the lucrative Indian telecom services market. This is the second instance of a realty firm foraying into telecom in less than a month. In August, Delhi-based Parsvnath Developers had submitted an application to the DoT for a Unified Access Service licence in 22 circles. Unitech already has a telecom transmission tower manufacturing business, the details of which were not revealed by the company. "The continuous rapid growth in India's telephone services business indicates the enormous potential for future growth in this business. Further, it would help boost the group's telecom and transmission tower manufacturing business. Thus, investment in this sector would provide immense potential for value addition to the group," Unitech informed the National Stock Exchange today. The company |
