Tenet's managing director Rajendra Misra told The Financial Express that the company was also drawing up plans for subsidiaries and joint ventures in Germany, UK, Finland and Japan.

Funds to the tune of Rs 20 crore (raised from promoters, internal accruals and other sources) had been raised for the overseas expansion plans, Misra said. Plans are also being worked out for strategic acquisitions of US-based telecom technology and consulting firms by end-2000.

The company's WAP solutions, MBank (for mobile banking) and MTrade (for mobile stock trading), were ready for launch in the Indian market, he said. The core WAP technology, applications and service simulations was currently under test using end-to-end Nokia solutions and WAP servers, he added.

``The WAP solutions facilitate access to the Internet and specific data using mobile phones. The WML (wireless mark-up language) browser similar to the one in Nokia 7110 will provide the user the interface to access or receive data,'' Misra said.

Without naming them, he said that Tenet was in talks with three banks and some stock sites and exchanges for the implementation of the solutions. The company is also looking at developing similar solutions for meteorological, travel and news-based services, he added.

``We are looking at becoming technology enablers as well as implementation and service providers for our WAP solutions,'' Misra said.

As for the company's other plans, he said a development centre in Hyderabad was on the cards. ``The centres in Bangalore and Hyderabad will function as primary development centers while the overseas subsidiaries will be development and delivery offices,'' he said.

The overseas subsidiaries would focus on consulting and development of technology applications for local markets in telecom and wireless data applications, Misra added.

On the revenue front, he said that the company was targeting a turnover of Rs 15 crore for next fiscal as compared to Rs 7 crore this year. ``Currently over 80 per cent of the revenues are from overseas operations. However, by 2002 we expect close to 30 per cent of the turnover to come from WAP-related services and applications in India,'' he said.