Infotech Enterprises targets Rs 100 cr revenue in 3 years

New Delhi, May 15 (UNI) Global IT services company Infotech Enterprises Ltd today said it aims at Rs 100 crore revenue in the next three years from India and overseas business.

Meanwhile, the company has taken majority stake in Hyderabad-based Geospatial Integrated Solutions Pvt Ltd (Geospace Integra).

Under the terms of the agreement, Infotech and Geospace Integra will consolidate their geospatial business in India and West Asia.

The geospatial market in India and West Asia is estimated at Rs 1,000 crore and is expected to see a 12 per cent growth rate over the next five years, a company statement said.

The new entity will operate as a subsidiary of Infotech Enterprises Ltd.

''As we continue to reinforce our leadership position in the global geospatial markets, India and the West Asia become increasingly strategic to our growth objectives. By leveraging the knowledge and experience of Geospace Integra, we have a compelling value proposition for customers in these markets,'' Infotech's Chairman and Managing Director B V R Mohan Reddy said in a statement.

Infotech Enterprises Ltd, a 120 million dollar company, provides engineering design services and geographic information services to manufacturing, aerospace, transportation, telecom, utilities and government customers worldwide.

UNI