Goldstone Teleservices(GTSL), incorporated in Oct. 2000, to takeover the telecom business of Goldstone Technologies as part of restructuring programme undertaken by the Goldstone Technologies Ltd. As per the restructuring plan the telecom business of Goldstone Technologies and its telecom subsidiaries i.e. Newtech Stewing Telecom Ltd. and Shree Telecom Pvt. Ltd has been transfered to GTSL and one equity shares(of Rs.4/-) of GTSL were allotted free of cost for every fully paidup shares. Since the concept of BPO is growing very fast in India the company also forayed into the same in 2002-03 by investing Rs.15 crores in the BPO division. This project was funded partially by Term Loans from State Bank of Hyderabad and rest by Internal accruals. The operation started off same year and achieved a netprofit of Rs.3.48 crores.