Biomatiques Identification Solutions eyes turnover of Rs 80-100 cr by FY16-end

The company has had a tremendous response from the market for its biometric iris recognition solutions

Buoyed by the response from the market for its biometric iris recognition solutions using its patented hardware and copyrighted Iris Feature Extraction and matching algorithm, Biomatiques Identification Solutions Pvt. Ltd. is eyeing a turnover of Rs. 80-100 crore by the end of this fiscal. The company started off sales only after the launch which happened in March this year and has done a business of around Rs 15 crore.

Tamaal Roy, CEO, Biomatiques, Identification Solutions Pvt. Ltd. said: “Since we started off our sales only after the launch which happened in March this year, we have done a business of around Rs 15 crore, wherein we  have so far sold more than 40,000 units. However we foresee an upward incline in the demand which could be around 35 to 40 lakh units in a year’s time. In fact now we have to expand our production capacity considering the unprecedented growth in the market. Hence we are looking at a figure of around Rs 80 to 100 crore by the end of fiscal year.”

“One of our major orders came from Asian paints. We are also having tie ups with some players from automobile, smartphone, personal gadgets and computer sectors. Thus at corporate level we are alright taking direct orders however at government level we prefer going through system integrators like TCS, HCL and Wipro,” he added.

He further added that Aadhaar’s adoption and acceptance of this technology has been on the rise. Even the new government offices have introduced Aadhaar-enabled biometric attendance systems (AeBAS) to capture attendance. Even at fair price shops (AePDS) the verification of the individual is done based on Aadhaar, which ensures that the right person is getting the right benefit. “We promise to deliver tailored products and services to exceed our clients' expectations and increasing their profitability and efficiency to provide identity assurance for using our biometric identity solutions. We as a company has recognised this business opportunity and is ready to encash the same by bringing the state-of-art-technology with total flexibility of user-friendliness to meet the challenges,” he added.

 The company is planning to launch some standalone products. One such product that we have is named “eParakh IriDist” which enables accurate iris scans from a distance of up to two meters with very little intervention required from the user.

The company has tied up with Snapdeal, Ebay and Amazon to take care of online retailing.