| |
L&T Information plans software facility in Pune
Our Bureau
Pune, Jan 23: L&T Information Technology Ltd (LTITL) intends to set up a world-class software development facility in Pune within the next two to three years. Currently, the company, which was spun off in April 1997 from the Rs 5,300-crore parent L&T, is engaged in talks with leading software companies for a possible tie-up.The company's chief executive Achyut S Godbole said, "The number of software professionals at Pune would increase from 40 to 150 in the next four months, while at least 300 to 400 professionals are expected to be based at our Pune centre within the next three years." He said the Pune operations (open systems, research and development, CAD and IBM mainframe applications), are expected to play a significant role in the company's growth plans. Godbole said, "The domestic software market is becoming more crowded and is characterised by undercutting of prices. We would rather focus on software exports only." The niche areas of the company include Year 2000 solutions, ERP consultancy, euro
money conversion, and Internet-related services. Almost 30 per cent of the company's revenues are from Year 2000 projects. LTITL is primarily engaged in providing offshore development services. Software exports through this route constitute about 95 per cent of the company's turnover. About 55 per cent of LTITL's exports are to the US, while the remaining are in Europe and Japan. Future plans include increasing its presence in Australia, New Zealand and other Asian countries, Godbole said. The company has targeted a turnover of at least Rs 112 crore from its first year of operations, while a Rs 250-crore turnover has been projected by the turn of the century. The total strength of the company is expected to grow from 800 to 2,000 during the corresponding period.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
|
 |
