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Hyderabad, Sept. 30 Pune-based software product development company Persistent Systems is planning to expand its telecom clientele in India.

At present, Persistent derives a major part of its total revenue ($100 million during the last financial year) from its clients in Europe and the US. “`However, in view of rapid growth of telecom sector in India, we plan to expand our client-base in the domestic market,” Mr Sanjiv Kumar, Executive Vice-President, Persistent Systems, told newspersons here on Tuesday.

On the impact of economic slowdown in the US on the company in particular and industry in general, Mr Kumar said his company was “safe” because it is a product-based company. “However, there could be a little negative impact on the industry,” he said.

The company, which has 4,000 employees in major cities, is in the process of going for a public issue and had filed the Draft Red Herring Prospectus with the Securities and Exchange Board of India, he added.

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