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ISoftTech targets 100% growth

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CIOL Bureau
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BANGALORE: When the industry is growing at a pace of 30 to 35 per cent anything above this is considered good. A 100 per cent growth in a competitive market would be a Herculean task, especially when you are in the product development space. However, this would be a simpler job, if you are an extended engineering arm of the product company.



Chennai based iSoftTech Solutions Pvt Ltd is targeting a 100 per cent growth next year in terms of raking in the revenues and expanding the team size. Founded in April 2001, the company has posted revenue of Rs 5 crore this year and expects to close next year with Rs 10 crore. It provides services from architecture and design to validation to the product company. Presently with a 50 member team, it plans to double by the end of next year.



"India's strength is in the availability of expert software engineers in abundance, while the companies in the USA are close to the market and identify product opportunities and are able to market them effectively. To leverage India's true strengths, iSoftTech focuses on providing high-end design services," Vijay Babu, President and COO at iSoftTech.



Started and fully owned by US based industrialist, Ray Stata with an initial investment, the company is engaged in fully servicing overseas companies. "We shall augment our current services with product and framework development, mainly for use by the product development companies, to help them develop their products quicker," added Babu with no plans for the company to venture into the booming BPO or attractive software services sector.



On Indian product development companies, Babu, comments, "Indian companies can develop products of great complexities. There are a few success stories in developing products for the Indian market. However, it may have to gain experience in identifying international product opportunities and market them successfully."

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