The Hindu Business Line : Navayuga Info in expansion mode

NAVAYUGA Infotech Ltd, an IT solutions provider, is planning an expansion drive with another centre in Hyderabad and an increase in headcount from 300 to 1,000 people over the next two years.

The company is negotiating with the State Government for land in Visakhapatnam. It had earlier this year located a centre at Atlanta and is expecting to further consolidate its overseas operation, while expanding its facility in Bangalore.

The President and Chief Executive Officer of Navayuga Infotech, Mr P. Chandrasekhar Reddy, said that the company had achieved a compounded annual growth rate of about 55 per cent and would close this year with revenues of Rs 35 crore, up from Rs 20 crore last year. Navayuga Infotech is part of the diversified Rs 900-crore Navayuga Group.

"We are also open to inorganic growth and may even consider the option for a public offer within the next couple of years. However, given our cash inflows and strong promoter background, the expansion would be funded through internal accruals as of now," he said.

Addressing a press conference along with senior company executives, Mr Reddy said the company aimed to achieve SEI CMMi following its recent achievement of SEI CMM Level 4 certification.

The company has long-term relationships with some overseas clients and these include a development centre for Vehma, a Canadian engineering company, and Airports Authority of India (AAI) for which an integrated inventory and maintenance management system was developed. The company has also provided an air traffic billing system for about 45 airports in the country, Mr Reddy said.

The company has also partnered with FedEx Kinkos in West Asia to provide e-document management services that handle FedEx requirements in various countries across the world.

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