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IBS eyes Indian aviation industry for growth

BS Reporter  |  Chennai/ Bangalore 

Thiruvananthapuram-based IBS Software, a privately-held company, which specialises in IT solutions to the travel, transportation and logistics industry, is eyeing the booming Indian aviation sector for growth.
The company recently bagged its first client in the Indian market. Jet Airways has signed a seven-year contract to implement IBS' crew management system "" AvientCrew "" to support the airlines' crew management needs.
"The solution helps airlines in scaling up their business to remain competitive in a rapidly-evolving market. We are confident this will be a prelude to other airlines in India following suit. We are in discussions with all leading airlines of the country," IBS Chairman & CEO V K Mathews said on Wednesday.
IBS caters to over 100 customers worldwide, including airlines, international airports, cruise lines, oil and gas companies.
"All these years, Indian airlines and airports did not attach much importance to IT operations. Now they have begun investing on IT operations. We see opportunities for growth. We intend to provide software solutions to at least 40 airports in the country," he added.
He said the company posted a compounded annual growth rate of 47.5 per cent in the last 10 years. "We are deriving our entire revenue from global clients. In the coming days, we expect the revenue contribution from the Indian market to go up," he added.
IBS also announced the opening of its Bangalore development centre, its third in India and its twelfth globally. "The opening of the centre will help us reach out to prospective customers in the domestic market," Mathews said.
In addition to the recently-inaugurated first fully-owned campus in Thiruvananthapuram, IBS plans to set up its own campuses in Kochi and Kozhikode. It is also planning its fourth Indian development centre in Chennai.
The company has lined up a capital expenditure of over Rs 200 crore in the next two years.
Last year, General Atlantic LLC invested Rs 242 crore in IBS. "It will be utilised to assist the company's growth. We are also looking at acquisitions in the coming months to build on our domain expertise," Mathews stated. The company has already made three acquisitions in the last three years.

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First Published: Thu, February 21 2008. 00:00 IST
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