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Color Chips to up headcount to 1000

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CIOL Bureau
New Update

HYDERBAD: Color Chips India Ltd, a 2D and 3D animation and graphics company based in Hyderabad, would be finalizing a $5 million project with a U.S.-based and a Germany-based company soon.



With the project thus signed, Color Chips that has been outsourcing production till now, will enter the production business.



In order to accomplish this, the company is setting up a production center in Hyderabad with an investment of about Rs 10 crore. The other two stages of production, namely pre-production and post-production, would be accordingly done by a Canada-based and a Europe-based company respectively.



"We are in talks with companies abroad and would be finalizing co-production partners early in the next three months. The proposed production would again be a 26-episode series that would be released in two-and-half-years after finalizing with the companies," said Color Chips CMD, Sudhish S Rambhotla.



The company, which has over 450 professionals, is planning to augment its headcount to 1,000 by the year ending 2004, said Rambhotla. Despite a huge potential in the overseas markets, the animation industry is reeling under a severe manpower shortage, he adds. Capitalizing on this shortage, the company has lunched its training program across the metros that would be later extended to B and C cities in a phase-wise manner.



The three-year-old company's turnover stood at Rs 6.5 crore and is targeting Rs 15 crore by the next financial year. It is also talking to companies for prospective acquisitions fueling the strategic growth of the company. "We are considering few companies and would be deciding on this in the next two to three months," said Rambhotla.





"The $ three million project in association with a German-based company taken up last year, is likely to be released into the market in the next six months," he added.



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