Altair Engineering, a global product design consulting and technology company that earned revenues worth Rs 35 crore from India in 2005, is looking at doubling its revenues by 2008. | |
| This apart, the company is eyeing the inorganic route for further growth and is in serious negotiations with a few companies in this regard. |
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| Speaking to Business Standard on the sidelines of Altair Engineering India's seminar on HyperWorks Data Manager, Nelson Dias, executive vice-president (Asia Pacific), Altair Engineering, said, "Driven by industries like aerospace and automotive, our operations in India are growing significantly. We, therefore, expect our revenues to touch the Rs 70-crore mark by 2008." |
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| The automotive and aerospace industries contribute more than 90 per cent to the company's revenues in India. |
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| Altair has its off-shore engineering services arm in Bangalore that is involved in the execution of computer-aided engineering (CAE) consulting projects for global customers. Altair's facility in Bangalore has the capacity to house 250 people. |
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| "We are looking at moving into a new facility that will have the capacity to house 400 people. If we acquire the facility instead of taking it on lease, it will involve an investment of Rs 25 crore. We plan to shift within the next 6-8 months," Dias said. |
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| The company also has marketing and support offices in Pune and Delhi. Altair currently employs 200 people in India and is planning to increase the headcount to 400 in the next 18-24 months. Some of its clients in India include Tata Motors and Mahindra & Mahindra. |
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| Meanwhile, the company is also looking at acquisitions to fuel its growth. "Inorganic growth is on the cards. We are looking at companies that are strong in related technologies and services of size in the range of $20 million-$25 million. We are in the early-to-mid stage discussions with these companies and may close a deal within the next 3-6 months," he added. On a global basis, Altair earned revenues "in excess of $100 million". |
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