Financial Daily from THE HINDU group of publications
Thursday, Jan 26, 2006
Financial Daily from THE HINDU group of publications Thursday, Jan 26, 2006 |
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Corporate
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Announcements Synygy plans foray into new markets Our Bureau
Pune , Jan. 25 THE Pune-based Synygy India Pvt Ltd has chalked out a roadmap for the current and the next fiscals. Speaking to Business Line, Mr Chetan Shah, Managing Director, said that the company had chalked out a three-year investment plan of Rs 50 crore in Indian operations. So far, it has invested close to Rs 7.5 crore for 2004-05 and Rs 15 crore in the current fiscal. The remaining Rs 25 crore is expected to be utilised during the next fiscal. He said that the investments would go in for Pune expansion and investment in telecom infrastructure. Looking at the financials, he said that the company is estimating revenue turnover of $10 million for the current year. The company, which began Indian operations in 2004, did not record a notable turnover that year. Mr Shah said that most of the revenue growth was coming in from the US clients. The company would also be looking at expansion in office space and the number of personnel. Currently it has on its rolls about 200 professionals, which it wants to increase to 300 by December-end. The company, which currently services clients in the US, would be making a foray into Australia, Singapore, Canada, and the UK for the sale of its products. The marketing would begin in the Asia Pacific countries; it will target English-speaking markets, he said, adding that Japan and Korea are of interest. These markets would be serviced from Pune.
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