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Cast Software eyes $9 mn revenue from India this year

Business Finance

Press Trust of India  |  Paris 

Software intelligence provider Cast Software today said it has set a revenue target of USD 8-9 million from Indian market this calender year.

Cast provides software intelligence to IT companies for measuring their software structural quality.

"Five years ago we started in India. We did a few hundred thousand. Then one million dollars and then 5 to 6 million dollars. There was a 300 per cent growth. This calender year, we are eyeing for almost 8 to 9 million dollars revenue in Indian market," Cast Software Chairman and CEO Vincent Delaroche told PTI in an interview here.

Cast uses system-level analysis to detect the dangerous structural software flaws.

"India is one of the biggest opportunity for selling of software to giant companies like Infosys TCS, Wipro and Cognizant. In fact, it is a potential goldmine for us," he said.

Replying to a query, Delaroche said unlike in China where ease of doing business is a difficult proposition, in India it is quite the opposite with smart tax system, which results in making lots of profit.

"If I keep some money in India and I reinvest it, I lower my tax. If I try to bring money back to Europe, I am going to pay India tax. So, we keep invested in India. With that, we create jobs and so on and so forth, which is a very fair game. I love that. If I were the Prime Minister of India that is what exactly I would do. Indians are very matured business- wise," he said.

From business point of view, India is a very interesting market which has been growing very fast unlike the European countries, where company hear about economic slowdown and recession, Delaroche said.

"We started our company in India five years ago with two people. Now, we have more than 150 Indian employees. In some European countries people complain about recession and economic slowdown, but when we fly down to India, everything is happening," he said.

Asked about their expansion plans in India, Delaroche said apart from having Cognizant and Infosys as their clients, a week back, Cast had signed a deal with Rajasthan government.

The company also is targeting Indian banks, including the State Bank of India.

Delaroche said he is inspired by Infosys Founder N R Narayana Murthy who is a symbol of simplicity and humbleness.

"I met Narayana Murthy. I see him as a very humble and simple billionaire. I love that. In US and Europe, when you are a billionaire and in a big company, you typically are very arrogant. This is not my culture," he said.

Cast operates on three continents with offices in US, France, China, India, Italy and Spain and has 350 employees worldwide and works with some of the largest global companies, including Tech Mahindra, HCL, IBM, Societe Generale, Credit Suisse, Fannie Mae, and FedEx.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Sun, January 14 2018. 18:35 IST