BANGALORE: Kshema Technologies Limited has started consultancy services and has won its first customer recently in Canada. Although the name of the client was not disclosed, it is reported that the client is operating in the financial space. The company is negotiating with six to seven of its existing customers to offer its newly started (this month) consultancy service. The company is also looking at acquisitions to complement its core services.

"Acquisitions are part of the organic growth and we are looking at the West, which would compliment our services as well as establish our presence there. It could also be in the consultancy services. Today companies, across the world, are looking at smaller firms to give a cost effective and tangible consultancy services, hence we have forayed in to offering this services along with our software services," said Ksehma, President and CEO, Anant R Koppar.

The company had recently restructured its organisation, which earlier had five groups, into three focussed groups, before adding the consultancy service. The three services are industrial automation and embedded solutions, healthcare and life sciences and financial and enterprise solution applications.

"Responsiveness and breadth of offering were the two key parameters when we took charge of the restructuring. It helped us combine complimenting skills into one group and extend value of our services to the customers," said Kshema Executive Vice President, Sales and Marketing, Kris Nair.

Having registered a revenue of Rs 56 crore, with a profit after tax of Rs 12.3 crore, for the financial year 2001-02, the company claims to be debt free and cash rich too. It aims to grow at 20 to 25 percent this year, having already won 20 new customers in the half year ended for the current fiscal. It currently services 45 active clients, which includes a few from the 20 new customers.

"We are not looking at any additional funding or strategic investor at this moment, but since we are a growing company, we might look at when we plan to expand into other services," added Koppar. It expects to add about 50 to 60 people to its existing strength of 450 employees.

The company, whose 51 percent equity is held by Sivan Securities, is planning to expand its presence in the US, Europe and Asia Pacific by opening up sales offices. While the company already has six operating offices in the North American region, it has two in the European region.

The new office planned in Singapore, would mark its presence in the Asia Pacific. Plans of acquisitions, expansions, growth and foray into new services lays rest to any kind of speculation of the company’s merger or sell out to any firm in India or abroad.