Financial Daily from THE HINDU group of publications
Saturday, Dec 25, 2004
Financial Daily from THE HINDU group of publications Saturday, Dec 25, 2004 |
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Info-Tech
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Software Aspire plans to raise headcount to 550 Moumita Bakshi
New Delhi , Dec. 24 THE Chennai-based Aspire Systems India Ltd plans to ramp up its headcount to about 550 professionals by March 2006, while investing in a new facility that will have a seating capacity for 1,200 professionals. "At present, we have 150 people in Chennai, and this will be increased to 240 by March 2005 and between 500-550 by March 2006," Mr Gowri Shankar Subramanian, CEO of Aspire Systems, said here. The company is also in the process of building its new facility encompassing 42,000 sq. ft. "In the first phase, we will be investing about Rs 9 crore. The first phase which is planned to house 250 professionals is expected to be operational by April or May next year," he said. The total investment in the facility would be close to Rs 40 crore, he said. "For the first phase, as much as 40 per cent of the investment will come in the form of loans from banks and the rest will be funded from internal accruals," he added. He said that the company's revenues are expected to Rs 14-15 crore for the year ending March 2005, with a profit level of 30-35 per cent. Aspire focuses on outsourced development work with product companies, and helps them in building various products.
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