DLF to foray into telecom biz
DLF plans to approach the Department of Telecommunications for a unified access service licence to provide telephony services across the nation, reports Archana Khatri.business Updated: Sep 23, 2007 03:25 IST
Real estate company DLF has become the latest firm from the sector to jump into telecommunications, joining two other major Delhi-based realty companies, Unitech and Parsvnath Developers by throwing its hat into the ring for a licence.
A company official confirmed the news on Saturday after an industry source told HT that DLF planned to approach the Department of Telecommunications (DoT) for a unified access service (UAS) licence to provide telephony services across the nation.
“We expect to announce the intention to the NSE and BSE (stock exchanges) towards the latter part of next week and then apply to DoT the following week,” a company official said.
Unitech had informed NSE and BSE on Friday that it planned to apply for a UAS licence.
“Real estate companies do not have liquidity to launch the business on their own. What may happen is that they may be a front for a global telecom operator to launch services in India,” said market analyst S.P. Tulsian.