Engineering and design services provider Tata Technologies on Thursday said the company is targeting a turnover of around Rs 5,400 crore over the next three years from the present Rs 650 crore.
The company that has domain expertise in engineering services, said there are lots of opportunities in the coming years, though the market is small for such businesses right now.
“We have a target of achieving $1 billion (around Rs 5,400 crore) by financial year 2017 and also grow our employees by around three fold to 20,000 people from 6,000 employees right now,” Samir Yajnik, President Global Services and Chief Operating Officer – Asia-Pacific, Tata Technologies, told Business Line.
He said India would be an exciting market for companies like Tata Technologies in the future because the market is growing in the automotive, aero space and industry machineries where it has its focus on.
Apart from serving these three industries in India, he said the company is also looking at countries such as Russia and China in its automotive and aviation businesses.
“We are looking at those markets and soon announce something as we will work with one of the companies each in China and Russia,” he said.
He said though the company does not manufacture end products, it is engaged with manufacturing companies in providing end-to-end solutions from product design to their life cycle management (PLM).
As more and more companies have grown with the digital tools from what it used to be earlier, when people used PLM only for capturing the information offline, today they are making it a necessity with digital analysis and recreating the design and incorporating manufacturing upfront.
And to do that, the company has identified many plug and play models, and high impact territories for its anchor or key accounts (customers), he added.