Fis Sold 4.07% Idbi Shares In 1999-2000

Avantel Softech, a Hyderabad based telecom software company is actively negotiating with a German information technology company for providing on-site, off-site consultancy and required skill sets to its personnel.

"The opening of German doors for Indian professionals as well as local companies has provided another golden opportunity to units here. We are awaiting the Reserve Bank of India approval to complete the tie-up," said K J Tilak, senior vice president.

For the year ended March 31, 2000, Avantel earned an income of Rs 10.8 crore and a net profit of Rs 1.5 crore. The company has got huge demand for its Internet access products particularly the high speed digital subscriber line (DSL) modems and this product alone contributed around Rs 1.5 crore to the total turnover according to Tilak.

The company supplied around 350 DSL modems to different ISPs like Caltiger, Pioneer on Line, Sigma on Line, City on Line etc. It has recently developed four new Internet products : Baseband modem (2 types), Interface converter and Line driver that would help corporates realise Virtual private networks, Intranets, extranet and allied Internet services.

Recognising Avantel's pioneering efforts in R&D, technology development board, ministry of science and technology recently sanctioned a soft loan of Rs 1.3 crore.

The mobile satellite service reporting terminals developed by the company in collaboration with Space Application Center (SAC), Ahmedabad are much sought after for remote communication according to Tilak. Avantel despatched the first batch of 100 terminals to SAC recently.

In the field of radio frequency and microwave, Avantel has successfully developed some import substitute products and caters to clientele like Defence, ECIL, BEL etc.

The company has also signed a memorandum of understanding with Venkey Information Technology.