BSNL intends to invest Rs 185.91 billion in financial year 2008-09 This is higher than the Rs 140.65 billion envisaged for 200708. Further, BSNL is planning to invest Rs 600 billion over a three-year period to double its turnover. The company has ruled out the option of an initial public offering for now. Meanwhile BSNL has shortlisted six companies –­ GTL, Quippo Telecom Infrastructure Limited, Essar Telecom, XL Telecom, TVS and Aster Teleservices –­ to hire cell towers. BSNL will negotiate with each of these companies and offer area-wise contracts, depending on the price and availability of towers in the required area.