The Hindu Business Line : Aspire opens global Centre in Chennai

The centre, inside the SIPCOT Information Technology Park at Siruseri on the IT corridor, is being built in three phases. The first phase, inaugurated by the State IT secretary, Mr C. Chandramouli, has a seating capacity for 275 professionals and has been built at a cost of Rs 10 crore, according to the company's CEO, Mr Gowri Shankar Subramanian.

The second phase would cost another Rs 10 crore and create a seating capacity for 225 employees. The second phase would be ready by January next year. The company funded 50 per of the cost for the first phase and a bank funded the rest, he told newspersons.

In the third phase, there is a plan to create seating capacity for 600 employees and the company would spend about Rs 30 crore. Aspire plans to increase its employee strength to around 500, from the current 225, and double revenue to Rs 20-25 crore during the current fiscal. The target is to reach Rs 100 crore by 2008, he said.

Mr Bhoovarahan Thirumalai, Executive Vice-President and co-Founder, said that the company was moving from a "strategic vendor to strategic partner" for clients, he added.

A Nasscom-McKinsey report indicates that revenue from product and technology services opportunity in India could reach $8-11 billion by 2008.

In the US, there are over 23,300 software companies with total annual revenues of over $100 billion, and they spend 18-25 per cent of their revenues on product development. This was a huge opportunity waiting to be tapped by Indian companies, including Aspire Systems, he added.

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