The Hindu Business Line : Goldstone Tech plans campus near Hyderabad

GOLDSTONE Technologies Ltd, a software solutions company will establish a technology campus near Hyderabad, induct about 250 people this financial year and consolidate in services and business process outsourcing (BPO) space.

The Chief Administrative Officer of Goldstone, Mr K.S.V. Chalapathi Rao, said the company had drawn up plans to further consolidate relationships with existing long-term clients such as Business Objects, Axway and Sun Microsystems, the latter for Java to Forte migration services.

Goldstone recorded total income of Rs 57.31 crore and a net profit of Rs 4.13 crore for the financial year ended March 31, 2004 as against total income of Rs 48.89 crore and a net profit of Rs 50 lakh for the previous financial year.

For the fourth quarter ended March 31, 2004, the company's total income was up at Rs 11.26 crore (Rs 10.79 crore) and a net profit of Rs 90 lakh (Rs 1.89 crore).

Mr Rao told newspersons that Goldstone had focussed attention on consolidating its business relations with large clients in fiscal 2004 and this had begun to pay-off.

With the addition of six new clients during the last quarter and 17 overall during the year 2004, the company expects to grow its revenues by about 25 per cent this year.

"While growing the services business, particularly the Forte to Java migration, which has assumed centrestage with sun set clause for support, we expect this segment to grow by about 35 per cent. But the thrust area would be the growth of the high-end BPO services, particularly technical help desk.

"We have entered into long-term partnerships with leading corporations such as Business Objects and provide global technical support", he explained.