Apar Infotech to expand its India operations

Apar Infotech, an IT services company headquartered in Pittsburgh, is planning to expand its Indian operations. It plans to invest around $ 5 million over the next two years and double its employee base from the existing 500 to more than 1,000 by the end of Sept 2003 in the Mumbai offshore center.

Rajeev Srivastava, CEO, Apar Infotech, said, "Our first priority is to expand our facilities in Mumbai and Bangalore and in this regard we are planning to increase our employee base in Mumbai. Since, India is becoming a hot spot for IT and telecom companies, expanding operations will certainly strengthen our position in this region."

The company already has around 500 employee each in Bangalore and Mumbai development center. With this expansion, the company is also expecting a substantial growth in its revenues from this region.

Currently, India contributes around 15 percent in the overall business of Apar Infotech. With the further investment and expansion, the company is expecting a growth of around 300 percent next year. 

Worldwide the company is expecting to generate around $ 80 million by the end of September this year. The company has Warburg Pincus as its equity investor that holds around 45 percent stake in the company.

The verticals in Apar's quiver include banking and finance and telecom. Most of its revenue comes from the financial sector, while the telecom sector contributes only 20 percent in its revenues in India. But the company is expecting a substantial growth from the telecom sector, as it is a booming market in India.

The company has onsite presence through offices and development centers in nine countries that include the US, UK, Singapore, India, Japan, Hong Kong, Australia, Malaysia and Ireland and operates through two offshore development centers in India.

Rahul Gupta


(CNS)