Indus Net bets on cloud, IoT to boost revenues

Kolkata-based Indus Net Technology, an IT service, managed outsourcing and internet strategy company, is targeting a 30-35 per cent jump in revenues, this fiscal. Its turnover stood at ₹42 crore in FY-15.

According to Abhishek Rungta, Founder and CEO, Indus Net, the company is targeting a three-fold jump in revenues to the tune of ₹120 crore by 2020.

Apart from the regular verticals that include developing web and mobile applications and digital marketing services, moving into cloud infra-management and IoT (Internet of Things) will help boost in revenues, he said.

As of now, BFSI (banking, financial services and insurance), retail solutions, media publishing and entertainment and e-governance form the major chunk of revenues.

“Cloud infra management and IoT will be growth drivers for the business in the coming days. By 2020, expect these two to contribute around 20 per cent of the targeted revenues,” Rungta told BusinessLine.

It is looking at a joint venture with an energy company to develop IoT solutions in the coming days. Indus Net will be the technology partner while the energy company will look at the manufacturing side.

The company has also come in as a “partner” for Amazon Web Services, the cloud computing platform offered by Amazon.com.

Indus Net, meanwhile, is planning to expand operations to Africa this year; apart from the 40 countries, across Europe (including UK) and the US, where it already has a presence.

The majority, 50 per cent, of its business comes from Europe, the US accounts for 25 per cent; India comes in at number three with 15 per cent and the remaining (10 per cent) comes from Rest of the World.

According to Rungta, the company – which prefers self-funding (often called as bootstrapping) – is unlikely to look at a possible fund infusion any time soon. However, it does have a listing plan set for 2020.

“We have enough cash reserves at the moment. But indeed we have a long term vision of listing,” he said.