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MVL forays into telecom, forms separate entity

MVL forays into telecom, forms separate entity
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First Published: Wed, Jun 23 2010. 09 37 PM IST
Updated: Wed, Jun 23 2010. 09 37 PM IST
New Delhi: MVL Group, a diversified business house having interest in real estate and consumer electronics announced its foray into telecom by launching a separate company called MVL Telecom Limited on Wednesday. On the occasion, group’s chairman, Prem Adip Rishi also announced an operational investment of around Rs400 crore over after sales services and research and development activities.
The company has also launched eight mobile handsets that range between Rs1,400 and Rs5,000. “The company would spend the entire Rs400 crore over the next six months. Apart from this investment, the company will also open warehouses at 27 locations apart from its master warehouse at Bhiwadi.”
He added, “Its first plan will come at Bawal in the north. The company at a later stage may also start manufacturing other IT peripheral products. But as of now we would focus only on the mobile handsets.”
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First Published: Wed, Jun 23 2010. 09 37 PM IST