Sunday, September 30, 2007

Indian real estate and construction major Unitech Ltd has decided to enter the country's burgeoning telecommunications market

Unified access services in 22 telecom circles :Unitech is planning to do so with a bang, with eight of its subsidiary companies submitting applications to provide unified access services in 22 telecom circles across India. A 'unified access services' licence allows operations using several telecom technologies, including GSM and CDMA.

Growth : Taking these decisions on record at the 21 September 2007 meeting of its board of directors, the company's directors "noted that the continuous rapid growth in India's telephone services business indicates the enormous potential for future growth in this business."

Why get into intensely competitive telecom business? : The Unitech board believes that the group has synergies with telecom. The board resolution says an entry into telecom "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." The group is in the process of tying up finances as well as technology partners for its telecom plans.

Parsvnath, another real estate group, has also applied.

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