The ailing state-run telecom service provider”” BSNL has set a target to earn Rs 1,600 crore in revenue in next five years from its telecom tower business. The telco would give its towers on lease to the private telecom service providers.
BSNL chairman and managing director R K Upadhyay in a presentation to the telecom minister said that, the tower subsidiary has a potential to garner close to Rs 1,600 crore in five years. The telco is serious on the issue and has already initiated the procedure of appointing consultant to establish a new tower company. It is expected that the process will be completed by the end of December this year.
The telco has been suffering from plunging revenue and grim business outlook. In the presentation to Kapil Sibal, the firm indicated that its losses are set to broaden for H1 FY13. BSNL has projected that its revenues for H1 FY13 will be around Rs 25,384 crore, down 9 percent, as compared to the period of FY12.