CDMA service provider Tata Teleservices (Maharashtra) intends to spend around Rs500 crore as capital expenditure for the current financial year.

"We intend to invest around Rs500 crore to expand our presence in new areas, increase portfolio of services and addition of subscribers in our two circles," TTML chief financial officer (CFO) S Venkatesan said on the sidelines of the company's AGM today.

The company intends to increase presence to 800 towns and increase the number of base transceiver stations (BTS) from the present 1,207 towers.

The company has a similar capex for the previous financial year also, he added.

At the company's 12th AGM, its non-executive chairman Ratan Tata said TTML had no plans to demerge its towers into a separate business.

TTML has operations in two circles — Mumbai and Rest of Maharashtra (RoM) — and has 418 BTSes in Mumbai and 789 towers in RoM, Tata said.

On the legal issues on the stake sale in Idea Cellular, the chairman said he couldn't comment as they were "sub-judice".

However, he said there was no agreement between the Aditya Birla group and the Tatas, and Idea Cellular was free to operate its services in the Mumbai circle.

TTML managing director Charles Antony said the company had posted growth during the last 10 quarters.