KPIT Cummins Infosystems (KPIT), a mid-tier software and engineering services provider, is targeting $1 billion in revenues in the next four years.
“We are expecting growth to come from multiple areas, mainly from the automotive engineering segment. Overall, we expect strong growth out of Asia and Germany, while the US will also continue to grow,” KPIT Cummins Chief Executive Officer and Managing Director Kishor Patil said.
The company had grown from a base of meagre $10 million revenues in 2002 to $100 million in just five years, and at present has revenues of $309 million.
Apart from the automotive engineering segment, the company is also expecting Enterprise Resource Planning (ERP) to be a growth engine in the next four-year period.
ERP solutions such as SAP would be a driver in Asia including India and South America, while Oracle would grow in the US. Growth is also expected from China, Japan and Germany, he added.
Hiring
KPIT, which has tripled its onshore hiring in the US to about 1,000 personnel during the past three years, would continue to hire in other countries. The company had also increased the number of $1 million customers to 59, a 50 per cent growth from 2011.
The company is also working on Revolo, a hybrid fuel-efficient solution jointly developed by Bharat Forge and KPIT Cummins. This solution, that transforms existing vehicles into hybrid vehicles and enhances fuel efficiency by 35 per cent, is awaiting guidelines from the Government.