Keste sees $2-mn revenues from Hyd centre

Keste, a Texas-based provider of Oracle software solutions and development company, expects revenues from its India development centre (IDC) in Hyderabad to exceed $2 million (approximately Rs 11 crore) this year, as against $1.5 million in 2011, according to president and chief executive Howard Moore.

“The growth will be primarily driven by the increasing IT work being outsourced from the US to India,” he told mediapersons here on Thursday.

To develop in-country and regional business, the company is planning to invest $2.5 million to expand its existing facility and grow the current headcount of 75 at the IDC to 150-odd through 2013. Keste houses just over 140 employees at its US facility.

“We service 100 customers globally, including in West Asia and South Asia where the market is actually emerging, even as we continue to serve the US as well. While we currently have 10 customers in India, we have an internal target of having a clientele base of 20 in India within a year,” said Sri Mereddy, director, IDC.

Stating that the financially-independent, internally-fuelled company had a controlled growth, Keste’s chief financial officer Kenneth J Judd said that the company’s global revenues stood at $27 million last year and was expected to have a little bit of slower growth in revenues at $30 million this year.

“While telecom and hitech account for 50 per cent of our revenues, the remaining is evenly distributed among industrial, manufacturing, life sciences, energy and retail verticals,” he said.