BackGTL to hive-off its BPO arm; in talks with three foreign firms
GTL to hive-off its BPO arm; in talks with three foreign firms
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Mumbai: In addition to its Enterprise Networks and Managed Services business, GTL has also put its Business Process Outsourcing (BPO) arm on the block and would focus more on the telecom business.
“Along with Enterprise Networks and Managed Services business, GTL intends to hive-off its BPO business in order to focus more on the telecom business," a source close to the development told PTI.
GTL’s Enterprise Networks and Managed Services businesses have three international suitors and French Telecom is supposed to be leading the race, the source said, adding that talks were of initial stages.
GTL has two BPO facilities located in Navi Mumbai and Pune with a combined capacity of 1,500 seats.
The network services provider to the telecom space, GTL had recorded a sales turnover of ₹ 1,156 crore and a net profit of ₹ 101 crore in the last 12 months ending 31 March.
The company has already started scouting for acquisition targets in the US, UK and far East and is learnt to be ready with a war chest of ₹ 1,000 crore toward this.
Other group company, GTL Infrastructure, a listed entity, has also embarked on a ₹ 2,030 crore capex plan for the current fiscal to roll out additional 5,500 cell sites from the existing 1,200.
GTL has already announced its ambition to achieve a topline growth of 30% in the current fiscal, riding on the huge potential in the network services space.
Telecom Regulatory Authority of India (TRAI) estimates that the country requires about 330,000 towers by 2010, against the present number of about 100,000 to achieve 500 million telecom subscriber base by 2010.
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