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Hughes Soft targets 10-fold growth in product business
Mini K Joseph
Bangalore, June 8: Hughes Software Systems is targeting a business mix of 50:50 from products and services in three to four years, according to company's vice president (human resource, IT & corporate communication) Aadesh Goyal. Goyal told eFE that during fiscal '99-2000, 20 per cent of the company's revenue was from products alone. During the last fiscal, the company posted a turnover of Rs 107 crore, of which products accounted for 20 per cent. "We are targeting a 10-fold growth in the product business for the next three to four years," he said. The company has over 200 people working towards product development. Goyal said, to achieve the target, the company would invest 11 per cent of its total revenue in product development and R&D.``We believe that product business is our future and this will only move us up in the value chain,'' he said. The company recently forayed into application service provider (ASP) segment by launching RightServe in the market. The ASP division was in the investment stage, and within a couple of years, it was planning to capture a significant market share, he said. Goyal said the company would invest considerably towards brand building besides expanding the market reach both at home and overseas. Hughes recently set up two offices each in the US and Europe and another office in Japan was in the pipeline. The company has several sales representatives and marketing alliances in US, Europe and Asia. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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