Indus Towers tenancy ratio crosses 2

Indus Towers', the world's largest telecom tower operator, has achieved a tenancy ratio of 2, despite the addition of additional infrastructure investments in the country.

''This is a big achievement as it was achieved in spite of the portfolio (industry) of towers increasing by almost 50,000. In 2008 Indus began operations with 63,400 towers and 73,800 tenancies,'' the company said in a statement.

Indus, which has presence in 15 telecom circles and operates 1.13 lakh towers, won total tenancies of 2.30 lakh. In 2008, Indus started operations with a modest tenancy ratio of 1.28.

''We are really privileged to accomplish an important milestone of getting into the league of 2.0X tenancies in India. We acknowledge the support of all our customers, employees and partners who have played an integral role in achieving this rare feat and making Indus the top 50 respected companies in India,'' said B. S. Shantharaju, chief executive officer at Indus Towers.

''I feel proud of my entire team and laud the efforts of every person without whom we could not have reached here in a short span of 5 years,'' he added.

Analysts estimate India will need to add new towers in the next two to three years, as the number of cell phone customers crosses the 900-million mark. The need for tower sharing will increase immensely in the current economic scenario as companies expand into rural areas and roll out data networks.

Indus Towers is an independently managed company offering passive infrastructure services.

The New Delhi-headquartered company has been promoted under a joint venture among entities of Bharti Infratel Ltd (rendering telecom services in India under the brand name Airtel), Vodafone India and Aditya Birla Telecom (offering services under the brand name Idea Cellular).