ITI to ring in major push in IT networking

BANGALORE: Upbeat on the orders front, ITI Ltd, the state-owned telecom equipment maker, is embarking on a major push in the IT networking segment as part of its diversification strategy.

The Bangalore-based company looks to more than double sales and cut losses by half this year. It has targeted sales of Rs 4,770 crore in the current financial year (2007-08) from Rs 1,842 crore in the previous year.

"The major driver for this growth would be the mobile sector", said ITI's Chairman and Managing Director, Pritam Singh.

"We are confident of bringing down the loss of Rs 412 crore last year to Rs 150-Rs 170 crore this fiscal".

ITI has been building GSM (Global System for Mobile) network for BSNL in the Western region (Maharashtra, Gujarat, Chhatisgarh and Madhya Pradesh) and networks as well as broadband systems for MTNL in Mumbai.

Sounding bullish, he said, "The requirement of BSNL itself will be large in the coming years. We will be able to generate business of Rs 2,600 crore out of this in this year itself".

Singh said ITI is strengthening its foray into the IT networking space in a major way, while it's also giving increasing thrust to defence segment.