GTL aims to grow revenue from overseas1 min read . Updated: 14 Apr 2008, 01:28 AM IST
GTL aims to grow revenue from overseas
Mumbai: Network services provider GTL Ltd is aiming to generate half its total revenue from overseas operations by 2010, compared with 20% now, a top company official said.
GTL, which acquired three companies abroad during the fiscal year that ended on 31 March, has already identified acquisition targets and has placed non-binding offers to potential companies in the US, Europe and Asia-Pacific, chairman and managing director Manoj Tirodkar said.
“Currently, we generate 20% of our revenue from overseas. We want to make it to 50% by 2010. In no way, however, we will compromise with our domestic operations," he said.
GTL posted a 53% rise in its total revenue for the year ended 31 March to Rs1,771.34 crore against Rs1,156.28 crore in the previous fiscal. The company targets 25% revenue growth in the next two years.
In the last fiscal, GTL had acquired three companies — mobile telecom industry service provider Genesis Consultancy in the UK, wireless engineering firm ADA Cellworks Llc. in Malaysia and network deployment company Strategic Communication Services Llc in the US.
GTL has earmarked Rs1,000 crore, including Rs628 crore through external commercial borrowings, for acquisitions, Tirodkar said. He, however, declined to provide further details on the target companies.