Cybage Soft to invest Rs 70 cr in new campus

Launching its operations in Hyderabad with a 100-seater facility, Pune-based Cybage Software announced its plans to invest Rs 70 crore for the development of a 4,000-seater campus.

Speaking to reporters, Arun Nathani, Chief Executive Officer and Managing Director, Cybage, said while Pune will remain the key city for the company as it plans a Rs 70 crore investment here to build a 4,000-seater campus, "The Hyderabad centre was necessary as it offered closer proximity to Microsoft, a strategic customer and other MNCs besides offering good skillsets." Also on the cards is a centre in Ahmedabad in the coming year, he confirmed.

With a facility for 100 people in Cyber Towers at Hyderabad currently, "The company also has planned phase II in Hyderabad in which it will double its capacity to have 200 people," said Nathani.

The company currently has 1,600 employees spread across its US centre and Pune and has recruited 200 freshers which will join the company in the next two months, taking its employee tally upto 1,800 people.

Growing at 100-160 per cent since its inception 11 years ago, the offshore product development company, "Recorded revenues of Rs 109 crore in financial year 2005-06 and is targetting 50 per cent growth to become a Rs 170-180 crore company in FY'07," said Nathani.

With growth and expansion high on its agenda, the company is also planning acquisitions to strengthen its offerings. "We are considering inorganic growth with one or two acquisitions of companies upto $10 million," said Nathani. The time frame for the acquisitions, he said, "could be as soon as six months or even longer."