Unitech to dial DoT number for telecom licences

Unitech Ltd, the country8217;s second-biggest real estate player by market value, has said it will enter the telecom services segment and will soon apply for licences for the entire country. In a communication to National Stock Exchange, the company said its eight subsidiaries will submit applications to Department of Telecommunications to provide unified access services in 22 telecom circles across the country.

Unitech follows another realty player Parsvnath Developers in the rapidly growing telecom sector, which has attracted a number of non-telecom companies who have sought licences from the government to start operations.

The board of directors of the company on Friday approved a proposal in this regard. 8220;The Board noted that the growth in telephone services business would help boost the Group8217;s telecom and transmission tower manufacturing business,8221; it said.

Unitech said investment in this sector would provide potential for value addition to the group.