The Hindu Business Line : Induslogic to infuse $20m for expansion

INDUSLOGIC, offering packaged product engineering solutions for software companies, has drawn up plans to expand Indian operations at an investment of about $15-20 million by the end of 2005. The company would also be doubling its headcount.

The Co-Founder and Chief Executive Officer of Induslogic, Mr Rajul Garg, told Business Line "Induslogic, in India since 1998, opened last month a new facility in Noida which has a capacity to house 600 people. We hope to double our revenue and touch the $20 million mark by end of 2005. We are looking at another centre in India in the next 12 months. Induslogic currently has around 40 customers globally and there is immense market potential to increase this number."

"Induslogic, which is venture funded, sees immense opportunities in the Indian market for software product development companies. Almost 85-90 per cent of Induslogic's development work is done in India. We plan to invest another $50-60 million in the next 2-3 years and are looking at a mix of organic and inorganic growth. These investments would be into new centres, HR and infrastructure," he explained.

Mr Garg said, "We are hiring about 30 people every month and plan to grow to a team of 2,000 people in the next 2-3 years. More than 50 per cent of Induslogic employees in India are IIT graduates.

More and more companies were opening up to the idea of outsourcing product development work to specialised service providers for higher quality and innovative inputs, Mr Garg said.

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