PowerGrid eyes revenue jump from telecom business

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MUMBAI, Oct 27 (PTI): The state-run PowerGrid Corporation (PGCIL) aims at a 30-per cent increase in revenue from its telecom business in the current fiscal, a top company official said. "We are expecting a 30-40 per cent increase in revenues from our telecom business," PowerGrid director for personnel VM Kaul told reporters here. Last year, the company had netted Rs 1.87 billion from the telecom business out of the total revenue of Rs 83.88 billion. "At present, the telecom business contributes nearly 2-3 per cent of our total business. But we are looking at a significant growth in revenue from this business in future," he said. PowerGrid, which entered the telecom business a few years back, has a telecom network of about 21,000 km optic fibre cable providing connectivity to all the metros, major cities and towns, besides presence in some remotest areas. The corporation which has over 0.1 million towers has so far leased 800 towers and has floated tenders for another 30,000, another official said.