Financial Daily from THE HINDU group of publications
Wednesday, Nov 19, 2003
Financial Daily from THE HINDU group of publications Wednesday, Nov 19, 2003 |
|
|
|
|
|
Info-Tech
-
Software Virtusa to ramp up India operations; eyes Chennai V. Rishi Kumar
Hyderabad , Nov. 18 VIRTUSA Corporation, a high-end engineering and technology solutions provider, is planning to ramp up its Indian operations to meet its growing global business needs. It is considering entry into another southern site, possibly Chennai. The Chief Operating Officer of Virtusa, Mr Jim Moran, told Business Line that the company had grown rapidly over the last two years. If the current growth trend in the vertical financial services and other areas were any indication, the company was well poised to more than double headcount from about 1,800 people, most of them in Hyderabad and in Colombo. Virtusa expects to touch 4,000 by next year-end. The company may even consider an IPO next year, he said. Last year, the company grew by a little over 80 per cent, and of the overall business, vertical financial services accounted for about 40 per cent. From early days, the Virtusa management has positioned the company as an engineering and business solutions provider rather than a mere technology solutions company. This has enabled corporations like Bank One to achieve significant return on investments. With regard to Bank One, most of the work was done from the Indian development centre, where over 200 people are currently working for the project. Bank One, which has assets worth $290 billion and for whom Virtusa has custom-developed several solutions, recently rated the company for an award. The entire top management of Virtusa has descended here and is in the process of taking stock of business plans. Currently, the Hyderabad operations are handled out of two centres. It is considering locating a technology campus, possibly in Chennai.
Article E-Mail :: Comment :: Syndication
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | The Sportstar | Frontline | The Hindu eBooks | Home |
Copyright © 2003, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|