BANGALORE: Bolstered by the consistent demand from the Indian telecom market and international OEMs, Bangalore-based optical networking company Tejas Networks is hoping to triple its revenues this year.

For FY05, Tejas clocked a modest Rs 47 crore in revenues.

“Last year, we decided to tie up with OEMs who have a fairly large installed base globally. We are also looking at opportunities in South East Asia, Middle East and Russia,” said Sanjay Nayak, CEO, Tejas Networks. He added that the company would not focus on the Chinese market, which has many regional players dominating in the telecom space.

While he did not name the OEMs, he said that the company has tied up with one major tier-one company and a couple of tier-two players. The company is also pursuing emerging markets through partners and SIs. Market studies estimate the Indian telecom market to touch $five billion this year.

Earlier this year, Tejas received $15 million funding from Battery Ventures, which is being invested into R&D and market development activities.

Tejas develops telecom equipment based on next-generation synchronous Digital Hierarchy (SDH)/Synchronous Optical Network (SONET) standards, which support Ethernet. “We are seeing a lot of business because customers are realizing the need to converge voice and data applications over the network. We are also ready for the next-generation standards.”

The company counts a lot of Indian networks like Railnet, VSNL, BSNL, Tata Teleservices and MTNL among its clients. “We have a $200 million addressable market for our products every year in India,” said Nayak. The company outsources its manufacturing requirements to third party companies including Flextronics and Solectron Centum

At present, the company has 240 employees on its rolls and hopes to add on 150 engineers this financial year.