Buoyant on new business and investment opportunities including that in basic, long distance and cellular telephony, Mahanagar Telephone Nigam Limited (MTNL) on Monday said that it would become a Fortune 500 company with a
turnover of over Rs 10,000 crore by 2005.
To realise the dream, the corporation is drawing up a new
businsess plan for which it will engage an international
consultant, S Sundresan, Director (Finance), MTNL told PTI.
pointing out that resources for investment would not be a problem for the debt free company.
“With networth of over Rs 7,100 crore, MTNL can easily
mop up over Rs 21,000 crore from the market and this kind of financial strength will be very difficult for our competitiors
to match,” he said.
“The corporation would soon commission consultants for the
business plan and accordingly rework the investment strategy for board's consideration in the next 2-3 months,” he said pointing out as of now the corporation had envisaged
investment of upto Rs 2,000 crore per annum in the short to medium term.
“The corporation registered a growth of 630 per cent in
investment at Rs 9,987 crore in last five years compared to Rs 13,687 crore investment in previous nine years (1986-95),” he said.
“MTNL would be investing Rs 1,000 crore over next three
years for its proposed entry into long distance (STD)
operations,” Sundresan said adding that this would also be part of corporation's new business plan.
Bureau Report
