HiTA Technology to cross Rs 50 crore mark

While markets across the country are reeling under the pressure of the
economic crisis with major importers losing revenue on all fronts, HiTA
Technology is seeing a boom in business with the company looking forward to
touching the Rs 50 crore mark by end of FY 2008.

“In the backdrop of economic slowdown, HiTA has not only done well in the
market, but has managed to cross the target of Rs 50 crore gross revenue for FY
2008,” said Arun Ghosh, MD, HiTA Technology.

Speaking about the company's strive to achieve the target, Ghosh elabora­ted,
“Our customer segment comprises the corporate segment, particularly the BFSI
sector. We route our products directly to the clients, however, we have
appointed over 100 dealers across the nation. Although the economy has been hit
hard, particularly in the IT sector, demand was steady in the BFSI and
manufac­turing segment. As we do not ever follow the channel strategy, we were
able to reap the benefits by billing either directly or through our dedicated
dealers.”

Already featured among the top seven list by Frost and Sullivan in the
national rankings in the UPS market in India, the company was also awarded the
Indira Gandhi Priyadarshini Award in November 2008 in Delhi.

“The award has been one of the several achievements for the company. Based on
our performance and customer satisfaction, we were nominated for this award and
finally bagged the appraisal,” Ghosh added.

Recently, the company has started to focus on the e-government projects in
the B and C-class cities across India. In this approach, the company has already
implemented a UPS project in the Land Records Division for the West Bengal
government through CMS and is considering projects for Uttar Pradesh, Bihar,
Orissa and Tamil Nadu.

Having a rate contract tie-up with Wipro, the company is aggressively
promoting its business in Maharashtra bagging all projects of HDFC Bank across
the country and having installation in all divisions of Tata-AIG, DCB, CESC and
Bengal Ambuja Group.

This year, HiTA will be busy in its brand building exercise and will focus on
the international market. Already, the company has started exporting UPS to UAE,
Egypt and South Africa and has manning the installations with service support.
Also, the company has recently diversified in the infrastructure field with
Ghosh bagging a Rs 10 crore contract from NABARD in a highway building project
in Purulia.