Harbinger plans Rs 4.5 cr campus, to double growth

Pune-based knowledge product and services company Harbinger Group has announced its expansion plans and growth strategy for the current fiscal. The company is looking at doubling its growth.

"We have planned a Rs 4.5 crore investment for setting up our own campus and have procured 25,000 sq ft land for the same. The construction will be completed in two phases. The first phase will require an investment of Rs 1.5 crore and the rest will be utilised in the second phase," said Vikas Joshi, chairman and managing director.

"The company grew at 60 per cent last year and is now a Rs 5.5 crore company. This year we will grow by 100 per cent to become a Rs 11 crore company and by 2007 we will be a Rs 20 crore company," said Joshi.

His confidence is based on the company's flagship product Elicitus achieving a global footprint and wide customer acceptance.

"In 2004, Elicitus had a consumer base across eight countries and today we are spread across 20 countries. Our customers vary from airline companies such as NorthWest Airlines and Indian Airlines to a church which holds online sermons and a food chain restaurant company"� Chipotle Mexican, to name a few," he said.

Earlier this year, Harbinger had released a new rapid interactive authoring tool, Raptivity. "This product is the first of its kind in the e-learning space and we expect it to contribute to our revenues in a big way," said Joshi.

The company also has massive recruitment plans. "We will add 125 more people to our company to reach a 300 mark by December this year and there after by December 2007 we will be a 400 people company," said Joshi.

He also mentioned that the total investments would be internally funded and that the company currently has no acquisition or exit plans.