mLogica looking to double revenues

After recording an income of $ 8 million in two years since its inception, mLogica, the database management and applications developer for mobility and embedded systems, has targeted to double its revenues to $16 million in the current financial year 2006-07.

mLogica managing director Amit Okhandiar told Business Standard that the company has recently entered the business of developing software for 3D animations and wants to ride on the huge demand existing in this area.

Banking on the potential in 3D animation, the company has entered into a strategic alliance with Hollywood-based Wake Music of Chicago and Pretty Woman fame, for sound track and Mumbai-based Grafitti for providing graphic design.

mLogica will provide technical design to tap this market. "We are seriously considering spinning off a seperate company to focus on animation," said Okhandiar.

He said, "as of financial year 2005-06, we are a $8 million company and have $10 million bookings in hand." mLogica's current revenue break up is 40 per cent from databases, 40 per cent from applications and 20 per cent from embedded software.

The company's headquarters is in Calfornia and it has a development centre in Pune where 80 of its 125 software professionals work.

Okhandair said, "Most of our growth will take place in Pune. The headcount will grow from 80 to 150 in the next six months." He said that Pune accounted for 70 per cent of the company's development work."

Also on the cards is opening more sales offices to tap the UK, Europe and Israel markets. "We have been limiting ourselves to the US only. But going forward we plan to open more offices in the US, one office in the UK and one in Israel," said Okhandiar.

Besides sales, the company is also planning new development centres in Shenzen and Phillipines.

"We will open two more development centres by the second quarter of this year. These will seat 10-20 people and will be located in Shenzen, which is just an hour away from Hongkong and in Phillipines," Okhandiar informed. "The Shenzen centre wil be opened first," he said.

Explaining that the need to establish these development centres was to avail of good resources in that geography, Okhandiar stressed that India will be our biggest centre, "we wil be limiting ourselves to database development only in the other geographies," he said.