Technosoft opens 2nd facility in Chennai

US-based Technosoft Global Services on Wednesday opened its new facility in Chennai. The company has proposed to invest around $4million (around Rs 19 crore) in the facility. This is Technosoft’s third facility in the country and second in Chennai. The company also has a facility in Bangalore.

Speaking to reporters, Radhakrishnan Gurusamy, chairman, Technosoft Corporation, said of the proposed amount, the company had already invested around $2 million (around Rs 7 crore).

The new facility will initially focus on BPO operations for company's healthcare clients based in the US. Gradually, it would also take up IT development works.

The company employs 1,000 people, of which 500 are in India. By end of next year, it is planning to add another 600 people in Chennai alone, said Rajiv Tandon, CEO, Technosoft.

Technosoft currently operates in three verticals — BPO, IT and infrastructure management. The BPO vertical focuses on middle-market companies having a revenue stream of $50 million (around Rs 250 crore) to $400 million (around Rs 1,900 crore). The vertical offers revenue cycle management, data entry, codings, AR collections, insurance claims for healthcare providers.

Sundar Dogiparthi, chief operating office – India, said as part of company’s expansion plan, Technosoft was looking at setting up facilities in tier II cities of Tamil Nadu.

The company expects to close the current calendar year with a turnover of $70 million (around Rs 340 crore) as against $58 million (around Rs 280 crore last year.