Software firm sets up Rs 20 cr unit in Mysore

Mysore-based leading IT company, Software Paradigms (India) Pvt Ltd (SPI), has scripted a new chapter with the opening of its first phase of the two lakh square feet project last week.

The new facility, which will accommodate upto a thousand professionals in the built area of 60,000 sq ft, will be in addition to the three existing SPI units including wo in Mysore and one in the US.

The three-phase new campus project will see a total investment of Rs 80 crore and the first phase has seen an investment of Rs 20 crore. SPI proposes to move its present 300-strong workforce from its Gokulam Road and Contour Road units to the new facility in a phased manner over the next 2-3 months. The Gokulam unit will then take the shape of a training facility, while the

Contour Road will turn into an R&D unit.

Briefing the media on the new facility, SPI CEO Sid Mookerji said, "This is one of the first steps of SPI's aggressive growth plans over the next three to five years."

"We also plan to expand our business to markets outside the US and explore the domestic market. As a result, we can forecast exceptional growth in the next five years in terms of clients, employees etc," the CEO said.

SPI registered Rs 45 crore turnover during 2005 of which Rs 15-20 crore was in India. Around Rs 30 crore was the share of its 50-employee holding company in the US. It had added seven new customers in January last. By the end of the year, it hopes to expand its workforce to 500-600 and also add 10 new customers.

The new campus will carry out customised software development and maintenance, software product development along with BPO activities.

Managing director K K Mookerji said SPI has become a training platform for fresh engineering graduates over the decade of its existence. Around 500 candidates had left SPI after training in Mysore for better prospects.

"This highlights the quality and time-scheduled performance credibility SPI has built over the period."