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Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (10124)	12/20/1999 10:00:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 12475

Polaris acquires construction firm polaris.co.in 20-12-1999 17:17:33 (Probity) As part of its plans to set up a software center in northern India, software firm Polaris Software Lab Ltd, has acquired a small construction firm in Gurgaon. A top official told Reuters that the company had acquired a small construction firm, Tip Top Holdings, for about Rs27.5mn (U.S.$632,300) to speed up work on their Gurgaon development center. The company?s vice-president for corporate communications, Rajiv Malhotra, said the acquisition was primarily aimed to expedite work on Polaris? planned 100,000 sq ft software development center. The company, which is based in Chennai, posted a net profit of Rs153.06mn in 1998/99, on sales of Rs823.98mn.