KPIT to open shop in Europe

By agencies   |   Monday, 17 October 2005, 07:00 Hrs
Printer Print Email Email
BANGALORE: KPIT Cummins Infosystems, a mid-tier IT services company is going to set up its first development center in Eastern Europe. The center’s portfolio includes both software development and BPO.

The company’s CEO and Managing Director, Kishor Patil said that the center will be set up within 12 to 18 months of time and it will cater to European market. The European market contributes about 30-35 percent of revenue to the company, whereas, the U.S. market holds revenue share of 60 percent.

For the financial year 2004-05, the company reported revenues of $5.81 million with a net profit of $0.61 million. For the current financial year the company is aiming to touch $7.5 million with a net profit of $0.79 million.

Mainly the company is focusing on manufacturing and BFSL, whereas, the sub-sector includes semiconductor, automotive and industrial automation. On company’s future expansion plan, Patil said: “We are planning to increase the headcount to 4,000 which would include an infrastructure investment of $25 million to expand facility in Pune with in three years.”

Google's Gboard gets offline
Google is adding an Artificially Intelligent (AI) offline dictation feature on its Gboard keyb..
IBM announces programme
n a bid to recognise the contribution of developers in the open source community, Information ..
Facebook denies cyber attack
Facebook ruled out a cyber attack on its products Whatsapp, Instagram and Messenger, which suf..
Wipro opens third industrial
IT major Wipro Ltd on Thursday opened its centre of excellence for Industrial Internet of Things (..