The Hindu Business Line : FCS turnover rises 46 pc

NOIDA-based IT solutions provider FCS Software Solutions Ltd has registered a 46.35 per cent increase in turnover in 2003-04 at Rs 64.15 crore as compared to Rs 43.8 crore in the previous fiscal.

The spurt in turnover is on account of new customer acquisitions as well as greater business from existing customers in all three key focus areas - e-learning and digital content services, IT consulting and business applications, and product engineering services, FCS Managing Director, Mr Dalip Kumar, said.

"We believe that with our current order book and accepted orders from existing clients, we would be able to sustain a growth of 30 to 35 per cent in the current financial year," he added.

Mr Kumar said that FCS was negotiating with top venture capitalists to fund its expansion plans and a planned acquisition of a US-based company.

"We would be looking at VC funding to significantly increase our turnover. On our own, we hope to cross a turnover of Rs 90-95 crore in the current year. If our plans materialise, we could well be a Rs 200 crore company in the near future," he said.

Asked if FCS had identified a target company for acquisition, Mr Kumar said: "We are exploring several options and hope to announce something in the next couple of months."

FCS provides IT solutions to Indian and US companies. It is currently servicing more than 87 clients, 12 of which are Fortune 500 corporations.