Calsoft Inc, a digital product engineering service provider, is expecting to achieve a CAGR of 30-35 per cent in turnover over the next three years to touch a revenue of around $100 million (approximately ₹794 crore at the current exchange rate) by FY25. The company’s current turnover stands at around $40-50 million (approximately ₹397 crore).
According to Calsoft CEO Anupam Bhide, AI/ML, telcom, cybersecurity and data analytics will be some of the key drivers of growth over the next two-to-three years. The company provides digital product engineering solutions in storage, networking, virtualisation and cloud among others.
“Technology services in IoT, AI/ML and data analytics domain give us better margins though the volumes are low. We work with several big companies and over 100 start-ups providing them engineering services in storage and networking, cloud and virtualisation among others. These help generate volumes for us,” Bhide told BusinessLine on the sidelines of the setting up of the company’s new development centre in Kolkata on Wednesday.
The company expects the share of AI/ML services to touch close to 22 per cent of its total turnover by the end of the current fiscal. It currently accounts for around 10-12 per cent of the total business.
Ramping up hiring
Calsoft, which set up its new product engineering centre in Kolkata, is looking to hire close to 250 employees in the city by the end of the current fiscal. The company currently has 1,500 employees working across its offices in Pune and Bengaluru. It is looking to increase its staff count to close to 4,000 by FY-25 and plans to add about 1,000 employees to its Kolkata office over the next three years.
It is also looking to open another product engineering centre in Indore.
“Bigger cities (metros) have become saturated and the traffic situation is bad. Software engineers prefer living in places where they can have a comfortable life. Kolkata has many advantages including industrial proximity to international contributions and a well-rooted academia,” he said explaining the rationale behind opening the new engineering centre in the city.