Financial Daily from THE HINDU group of publications
Tuesday, Jan 10, 2006
Financial Daily from THE HINDU group of publications Tuesday, Jan 10, 2006 |
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Info-Tech
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Human Resources R Systems to beef up staff strength Raja Simhan T.E.
Mr Rekhi Singh, Chairman and CEO - R Systems
Chennai , Jan. 9 R SYSTEMS International Ltd, the Noida-based information technology company, plans to double its employee strength in India to about 2,000 in the next two years. It also plans to raise about $15 million (Rs 67 crore) through an initial public offering or private placement to expand capacity in India, according to the company's Chairman and CEO, Mr Rekhi Singh. The company would decide on the mode of financing after consulting its main investors — GE Capital and Intel Capital, he told Business Line. The promoters hold 50-55 per cent stake in the company, Intel has 11 per cent, GE 10 per cent, employees 10 per cent and others hold the balance, he said. According to Mr Singh, the company's revenue was about $36 million (Rs 160 crore), and it was ready to tap the capital market. "We hope to reach $100 million (Rs 450 crore) in the next five years," he said. Clients outsource their product development from R Systems, which has centres in Noida, Pune, Chennai and one each in US and Singapore. As an extended arm of the client, R Systems assembles the right team, implements the product/solution through a 4D — define, design, develop and deploy — methodology, he said.
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