New Delhi: Network services provider GTL is arranging funding to the tune of Rs1,000 crore for making global acquisitions in a bid to enhance its telecom services offering.

The company is eyeing at least four different companies in the areas of network planning and design, network operations and maintenance and professional services.

GTL recently acquired Genesis Consultancy, a UK-based network services provider, for $9 million (over Rs40 crore) in an all-cash buyout to increase its third generation (3G) mobile capabilities.

The company is also selling off its non-telecom business as part of the plan. As part of this the company is selling off its IT managed services division that has 400 employees.
At least four companies have shown interest in buying out the division.

GTL is expected to get around Rs200 crore for the division.

GTL is also planning to sell off its Business Process Outsourcing unit keeping in line with its focus on the telecom services segment.

GTL''s revenues at the end of March 31, 2007 stood at Rs11,576 crore and net profit at Rs100.35 crore compared with Rs749.6 crore and Rs72.37 crore respectively in the previous year. The company has orders worth Rs1,600 crore for the year 2007-08 of which Rs1,152 crore is expected from projects in India.