Newly-formed Tata Indicom Enterprise Business Unit, the sales and marketing initiative of the group's four telecom service providers, would soon have a new participant with VSAT provider -- Tata Net -- set to join the initiative.

"TIEBU, formed last month by VSNL, Tata Teleservices, Tata Teleservice (Maharashtra) and Tata Internet Services will be a single point interface through which the companies will deliver telecom services to key corporate customers. And Tata Net would also join the initiative," Ajay Pandey, president, TIEBU told reporters in New Delhi.

He said Tata Net would be signing a memorandum of understanding to this effect within "a week or 10 days."

TIEBU, he said, is targeting revenues over Rs 550 crore (Rs 5.5 billion) in the first year of operations.

"About Rs 300 crore (Rs 3 billion) is on account of existing relationships and contracts which are already on," he said adding the new unit has been able to secure Rs 6-7 crore worth of annual contracts in the past month.

He, however, declined to divulge details of the contracts including the name of the clients.

The unit, which enables the four companies currently in its ambit to offer integrated voice and data solutions, has commenced its operations across eight cities -- Mumbai, Delhi, Calcutta, Chennai, Hyderabad, Pune and Ahmedabad.

The initiative is planning to target 415 large corporates initially, he said while pointing out that TIEBU was designed to tap the market synergies between the four companies so as to address the changing needs of the corporates.