Dion Global Solutions eyes 25% topline growth in FY11

Soft solutions provider Dion Global Solutions, formerly known as Religare Technova, today said it is eyeing 25% growth in revenue in FY11 and has set aside $50 million for acquisitions in next 12 months.

"We have aggressive growth plans and are expecting about 20-25 per cent growth in topline at Rs 110 crore and operating profit of Rs 10 crore this fiscal," Dion Global Solutions CEO Ralph Horne told reporters here.

The company's revenue for 2009-10 stood at Rs 90 crore, he added.

In FY12, he expects the company to continue to maintain its organic growth at 25 per cent, he added.

Dion Global Solutions is bullish on expansion for which it is looking at acquisitions, both on domestic and overseas front, particularly with expertise in risk and compliance, trading, customer management and technical analysis, data management, clearing and settlement and governance, he said.

The company has set aside $50 million for acquisitions and presently is in talks with 8-10 companies, both in India and abroad to penetrate deeper into the matured market and to make a mark in emerging markets like Latin America, he said.

The company is also bullish in product development and is planning to develop 15 products in next two years. Presently, Dion has six products in its portfolio.

Dion Global Solutions, which has about 450 workforce globally, is looking at increasing its India head count by 25% to about 125 people in next 12 months.

The company, which is already listed on the Bombay Stock Exchange, is also evaluating options for listing on the National Stock Exchange for raising money to fund its acquisitions.