Goldstone Tech launches IPTV services

Goldstone Technologies Limited (GTL), an ITeS company, has announced the launch of IPTV (Internet Protocol television) services in association with Singapore-based SPL Innotech Pte Limited.

IPTV is basically a system where digital television service is delivered to subscribers using Internet Protocol over a broadband connection.

GTL and SPL signed a memorandum of understanding to provide end-to-end IPTV solutions to global subscribers, with the server being stationed at Singapore. This involves an initial investment of Rs 25 crore for which funds are being raised through internal accruals and external borrowings.

GTL is raising Rs 6.5 crore via preferential issue of shares to promoters. Issue of 54 lakh warrants is also on the cards. This apart, the company will be raising funds from financial institutions.

Addressing mediapersons here on Monday, Travis Caddell, director (operations), Goldstone Technologies Limited, said, "This patented technology enables subscribers to watch live channels and video-on-demand, and provides access to radio channels and music-on-demand too. The entertainment bouquet consists of Telugu movies as well. While the technology supports Internet browsing, video conferencing and VoIP (Voice over Internet Protocol), it facilitates display of personalised greetings and messages to a select group also."

The company is eyeing 1,000 NRI customers in the first six months of IPTV's launch. The subscription charge per customer is $120 a year.

GTL earned a consolidated turnover of Rs 75 crore in 2005-06 and is targeting to double to Rs 150 crore in 2006-07. The contribution of IPTV to this year's revenues is expected to be around Rs 50 crore. The company earned a net profit of Rs 6 crore in 2005-06.