Rao's MphasiS e-business solutions for India
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Our Bureau (BL)
PUNE, Nov. 10
MPHASIS plans to achieve a revenue target of $6 million and introduce e-business solutions for the Indian industry. The Chairman and co-founder of the company, Mr. Jerry Rao, said MphasiS would be successful in achieving this revenue target in its first year of operations.
Briefing newspersons about the company here on Wednesday, Mr. Rao said MphasiS, headquartered in the US, began operations in December 1998.
Following the company's success in providing e-business solutions in the US and Europe, it decided to enter the Indian industry, Mr. Rao said. Until now, India was primarily MphasiS' largest development base for detailed design, development and support required to provide Web-enabled solutions for global companies, including start-up Internet companies, he said. The top priority now was to work closely with companies and financial institutions or banks to develop e-business solutions that could become critical business tools and to deliver enterprise-wide customer relationship management.
Mr. Rao said MphasiS could be described as belonging to a new breed of boutique technology companies called "interactive architects". He noted that the company provided solutions for many global companies under this umbrella, but in India, has offered this only to ICICI. For ICICI, MphasiS acted not only as architectural consultants, but developed Web-enabled call centres. The company is now working on Internet space, he said.
Mr. Rao said the Indian operations at Mumbai and Pune were established through the acquisition of Byzan India in Mumbai. The European operations were through the acquisition of Ingenio (Holland).
MphasiS, which has divisions in the US, Europe and Asia, is planning to open sales and project offices in Tokyo and Sydney, Mr. Rao said. The Tokyo office is scheduled to begin operations by January, while the Sydney office would begin operations by the first quarter of next year, he said.
According to Mr. Rao, the company is also targeting an increase in the number of personnel from 250 to 500 by next year. He added that about 160 personnel were in its two divisions of Mumbai and Pune.
He said the company was targeting a turnover of $20 million in its next year of operations. However, it would not be able to break even this year, though it would be able to achieve an operating break even next year, he said. Mr. Rao said the total investment for setting up the company was $7 million.
Mr. Rao said that revenue for the next year would include a revenue turnover of 10 per cent from the Indian industry. He noted that 70 per cent of the revenue came from the US, 20 per cent from Europe and the rest from the company's other operations, including India. |
