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| Tata Comm earmarks Rs 10,000 cr capex |
| Press Trust of India / Mumbai Aug 07, 2009, 17:04 IST |
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Tata Communications today said that it has earmarked Rs 10,000 crore capital expenditure over the next three years to enhance capabilities in core areas of operation - voice and data solutions.
"Our capex plan for the next three years is Rs 10,000 crore," Tata Communications' Chairman (Independent) Subodh Bhargava said at the company's annual general meeting here.
Company Managing Director and Chief Executive Officer N Srinath said that the company would invest in voice and data solution areas out of its proposed capex plan, but did not give further details.
Tata Communications, in its annual report, mentioned that it would continue to raise additional funds from banks, bond markets, etc in line with the need for maintaining sustained growth of business.
The company had issued redeemable non-convertible debentures aggregating Rs 1,250 crore on a private placement basis last fiscal.
Bhargava said that the company was looking to increase its revenue by 20 per cent this fiscal. Tata Communications, on standalone basis, had recorded Rs 3,984 crore in FY09 and Rs 10,223 crore on consolidated basis. Srinath said that 58 per cent of the company's revenue in the last fiscal come from the voice services, 40 per cent from data and the remaining two per cent from "other" areas.
Tata Communications, in which the government holds 26.12 per cent stake as on March 31, 2008, would look into the emerging markets for future growth. It has already presence in 24 of the 30 emerging markets.
"Emerging markets are a focus area for us. We are seeking opportunities in Africa, Asia and the Middle East," Srinath said.
The company, he said, has moved to capture the emerging market for outsourcing services in the international voice business and was expecting to grow in this area in future.
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