LatentView Analytics, a pure-play data analytics company, plans to focus on the Indian market to leverage the huge opportunity for analytics solutions in the country and also reduce its over dependence on the US market. Currently, the US market contributes over 95 per cent of the company’s revenue.

“We are kicking off the fledgling India practice. We started off in 2006-08 with India focus, but from 2009-10 the focus has largely been on the US. We do see that there is opportunity in the Indian market at this time,” said Rajan Sethuraman, CEO, LatentView Analytics.

He was addressing a virtual press meet on Wednesday to announce the company’s Q1 results. 

Opportunities in the analytics space

Sethuraman said the company’s public listing has created a buzz around the analytics space.  “Secondly, we also see Indian companies maturing. There are MNCs, which have their back-end analytics capability centres (GCCs) in India, MNCs with India business (like Pepsi or Unilever), which see India as a big market with great analytics requirement, and big Indian corporate houses with analytics requirement,” he added. 

“We have set up an India practice and there is a core team pursuing opportunities. We are in conversation with at least half-a-dozen prospects and we expect the first few engagements to kick off in a month or so. In the quarters to come, the number will shore up,” Sethuraman said. 

Europe, a focus area

LatentView Analytics had earlier announced Europe as a focus area after the US market. “We have kicked off this year with a renewed focus on Europe as a geography. We have brought on board a new Europe business head and he is in the process of setting up a team for delivery and front-end sales and business development. The whole Europe story will start playing out in the next few quarters.”

Sethuraman, however, said that he doesn’t expect any dramatic shift in the percentage of revenue this fiscal. “The intention is that over a three-year time-frame, the dependence on the US comes down. I would expect that Europe will start contributing 15-20 per cent of revenues and India 5-10 per cent in a three-year time-frame.” 

Focus industries in India

On focus industries for India, Sethuraman said, the company will continue to focus on the same sectors it focuses like like BFSI, consumer-packaged goods and retail. 

“But we are keeping it more flexible in India. If we get inbound opportunities from other sectors, we will take them up. We are also flexible on initial engagement models like size of the engagement, pilot projects to establish our credentials and even thinking of taking on some roles providing point expertise to begin with,” Sethuraman said. 

Meanwhile, the company reported a consolidated revenue of ₹120 crore, its highest ever, for the first quarter against a revenue of ₹88 crore for the same quarter in the previous year. Consolidated net profit increased 41 per cent year-on-year to ₹31.47 crore (₹22.31 crore). 

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