The Hindu Business Line : Value Labs plans $9-m expansion

VALUE Labs, a Hyderabad-based technology solutions provider, has drawn up plans to invest about $9 million this year toestablish its own technology centre in Hyderabad, set up a US office in Atlanta and fuel its expansion plans in the country by stepping up its headcount.

The company is also considering the possibility of another centre in the country, possibly Chennai. Addressing a press conference here on , the Chief Executive Officer of Value Labs, Mr Arjun Rao, along with Mr L. Paul Larson, Executive Vice-President, who recently joined from 24x7 Customer, and Mr Steven S. Vello, Vice-President, said that the company was planning to expand the India centre and scale up its headcount from 450 people. It is proposed to induct about 200 people by December and grow to about 2000 by 2006.

"The new development centre coming up in Hyderabad would see an investment of about $7-8 million and the US operations would witness investments of about $1million mainly in terms of the Atlanta office and a marketing push. The entire investments would be through internal accruals. Our revenues have grown a compounded annual growth rate of over 70 per cent and we are set to log in revenue of about $10 million this year. Given the current pace of growth, we are on course to achieving revenues of about $40 million by the year 2006," Mr Rao said.

"The Hyderabad development centre would have the facility to host about 1500 people and is likely to ready by middle of next year. By the time we are ready to move to that centre, the company would have overall strength of about 750 people," he added.