Signs MoU with Govt; unit to be ready in a year

Our Bureau

Ahmedabad, Dec. 1

The Pune-based engineering company Neilsoft on Friday announced its plans to open an engineering services delivery centre in Gujarat, to be operational in the next 12 months.

The centre is expected to grow into a team of 200 people over the next 24 months. The company's Managing Director, Mr Ketan Bakshi, signed a Memorandum of Understanding (MoU) with the Gujarat Government at the "Vibrant Gujarat Information Technology Summit 2006" meeting in the presence of the Chief Minister, Mr Narendra Modi.

This is the third delivery location in India chosen by Neilsoft after Pune and Hubli as part of its expansion plans in the fast-growing engineering services space.

A team from the company would visit Gujarat in January or February 2007 to finalise the location and the centre would be built in the next six months, according to a company release here.

Neilsoft took the decision following its investor, Gujarat Venture Fund Ltd (GVFL) encouraging it to do so. Gujarat has always been an important consideration for Neilsoft due to its first venture funding coming in from GVFL in 2000.

MoU with MS University

During the summit, Neilsoft also signed an MoU with the Faculty of Technology & Engineering, MS University, as part of the `Headstart Program' for engineering schools under the Workforce Development initiatives of Nasscom.

Neilsoft, which expects its turnover to grow to Rs 65 crore this fiscal, is a specialist engineering and technology services company catering to international clients in the building systems, industrial machinery and equipment, automotive, software, industrial plants, and marine verticals. With a team of 700-plus people, Neilsoft has emerged as one of the leading players in this space, the release added.

(This article was published in the Business Line print edition dated December 2, 2006)
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