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Parsvnath Developers to diversify into telecom

Parsvnath Developers to diversify into telecom

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Parsvnath Developers Ltd, India's leading real estate developer, has submitted applications to the Department of Telecom for providing Unified Access Services in 22 telecom circles across the country.

With the government following an open policy on spectrum, Parsvnath seeks to use this opportunity for providing unified access service on a Pan India basis, including rural telephony.

The licence for Unified Access Services would entail a 2G licence for GSM and a triple play of various services like IPTV, Wi-Max, internet, broadband and any other services relating to the signal. 

Speaking on the development, Mr Pradeep Jain, Chairman, Parsvnath Developers said,    "This is a great opportunity for the company to diversify into a new business area, which is continuously growing. Despite increasing number of subscribers, the penetration of mobile telephony in India is still low as compared to developed countries. As and when number portability is introduced, it would offer immense business opportunity to new entrants".

The diversification into telecom business would be subject to obtaining necessary approvals. 

Sourced From: Adfactors Public Relations Pvt Ltd