New Silk Route plans to expand tower portfolio.

New Silk Route (NSR) will increase its portfolio of telecom towers to 5,000 in this financial year, even as the Asia-focused private equity firm is keen on increasing the numbers through acquisitions.

The company intends to add another 500 towers this year, and going forward, it will continue adding 700-800 towers every year on an organic basis.

'There is a huge penetration of telecom services and demand is coming in from rural areas and from those communities, which so far did not have access to mobile phones. We feel that there is a requirement for additional towers,' Sanjeev Chachondia, Operating Partner at NSR, told Business Line.

HBL