Mannara Technologies, a data management and business intelligence solutions and services company, today announced the setting up of its technology centre in Pune. The new facility will cater to its new and existing clients base in US and India.
The company is investing Rs 60 crore for its expansion in the city in two phases. In the first phase, Rs 30 crore will be invested for the facility in Pune. Another Rs 30 crore will be invested for further development by end of 2015.
Currently, Mannara Technologies employees 100 engineers and is planning to increase the count up to 1,000 people by end of 2018. It is raising the funds via internal accruals.
Mannara Technologies’ current revenue stands at Rs 15 crore and the plan is to get it to Rs 50 to 75 crore in the next three years. Mannara is a sister concern of US-based Trinus Corporation founded by Sanjay Kucheria.
“The Indian market for analytics is of around $1 billion. But, the Indian industries especially, the SMEs are not using analytics or data warehousing for their businesses. There is a huge potential for this market in India. Mannara is eyeing this space of technology business in India. Also, one of the reason for this is the huge amount of data that gets produced by social media which needs management and analysis,” said Sanjay Kucheria, CEO Trinus Corporation.
Mannara Technologies has been operational in India for the past 10 years with an offshore development office in Navi Mumbai.
“Our expansion is a reassurance of our commitment to cater to the huge growth we foresee for data management & business intelligence services globally. The current market for this segment is predicted to grow to $2.8 billion by 2015,” Kucheria added.