The Hindu Business Line : QuEST plans $3-m capex spend

QUEST, an engineering design solutions provider, is in an expansion mode. It plans to invest about $3 million in capital expenditure and grow its range of solutions for aerospace, oil and gas and other verticals.

The President of Quest, Mr Arvind Melligeri, told Business Line that the product engineering services are set for growth where India is well placed to play a bigger role for large multinational companies seeking ways to cut down on overall spend. The combination of technological expertise and engineering design would help a company like QuEST to provide solutions to these corporations.

The company's clients include General Electric, Pratt & Whitney and Smiths Aerospace.

QuEST, founded in 1997, with operations in New York, Italy and India, has revenues of $19.5 million and has projected this to grow to $28 million by next year. This would mean a significant addition of manpower and investments.

"The company plans to invest about $3 million in an expansion that would see the induction of about 200 people this year. The company, currently, has about 800 people. Next year, it plans to invest about $5 million. We are cash positive and expect to invest through internal accruals. The company was initially funded by Carlyle Group which infused about $6 million," he said.

Though the market for engineering services is projected to be about $7-12 billion based on classification, just about $500 million of this has come to India. "Given the advantage a specialised Indian company can offer to MNCs, we expect this to grow significantly", he explained.

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