Financial Daily from THE HINDU group of publications
Saturday, Oct 22, 2005
Financial Daily from THE HINDU group of publications Saturday, Oct 22, 2005 |
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Info-Tech
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Software Intelligroup in expansion mode V. Rishi Kumar
Hyderabad , Oct.21 INTELLIGROUP Inc, enterprise technology solutions provider, has embarked on a major expansion, which includes adding about 800 people during this fiscal at its India development centres. The company also plans to consolidate its operations, commission the Bangalore development centre in November and is scouting for another centre in the country, possibly at Chennai or Kolkata. The Senior Director of Oracle and Peoplesoft Practice, Intelligroup, Mr Srinivasa Reddy Yenumula, told Business Line that the company had about 2,000 people now. Of this, about 1,600 are based in Hyderabad in three locations. This is likely to go up to about 2,400 by March 2006. The growth in headcount in India is particularly driven by the potential of enterprise resource planning market where the company continues to be one of the major players. Being in the quiet period, Mr Reddy refrained from speaking on any investments in dollar terms. Earlier this year, SoftBank arm invested in Intelligroup and the management structure has been recast. However, the company focus on ERP continues. During the year 2003, the company had recorded total revenues of $118.6 million and is in the process of restating its numbers for the year. Given the potential for ERP projects and ongoing implementations, the company could possibly achieve revenues of about $140 million. "Verticals such as healthcare, financial services, manufacturing and consumer electronics are seeing good business potential in the enterprise market," he said.
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