TechSpan India shows business performance

By siliconindia staff writer   |   Tuesday, 30 May 2006, 07:00 Hrs
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NOIDA: TechSpan India today announced its first quarter results demonstrating a growth in revenues and earnings. In 2005, revenues grew by 56 percent over the previous year demonstrating a growth in Domain and Industry led IT consulting work offshore. TechSpan India demonstrated strong growth in both its centers at Noida and Bangalore and contributed close to 25 percent of headstrong revenues of $113 million for the year ending December 2005.

The business performance of the India operations is in line with revenue growth witnessed by Headstrong Inc. globally, which saw a 46 percent increase in Q1’06 revenues over Q1’05. The company also shared its outlook of continuing to grow at 40 percent during 2006.

As part of its expansion plans, TechSpan will grow its India team from a current base of 1,000 employees to over 1,500 by end of 2006. The new center in Noida will add 1,500 seats to take the capacity in its Noida centers to over 2,000 seats and TechSpan’s Bangalore operations will have a capacity of over 750 seats.

Arjun Malhotra, Chairman and CEO, Headstrong Inc., said “TechSpan has registered impressive growth in the last financial year and its performance when compared to the industry is clearly one of the best in the industry. Our services globalization model with domain led consulting practice has been well recognized by our customers and is seen to be delivering true value to their business over contemporary offshore centric providers.”

Malhotra said “Our leadership position in the IT services industry in providing domain-knowledge based solutions to the world’s leading investment banks remains unchallenged, as does our leadership in the focused areas of business intelligence and lifecycle solutions for independent software vendors.

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