Rapidigm targets $24m revenue in 2006

Pragati Simlote

NEW DELHI: Rapidigm India, provider of specialized consulting and IT services and a wholly owned subsidiary of Rapidigm, Inc. Pittsburgh, PA, is expecting to generate offshore revenues of around $22-24 million for the year ending December 2006.

Set up in early 2001, Rapidigm India now has around 800+ employees spread across its two facilities in Pune and Delhi. The company expects to finish 2005 with revenues of $15 million.

Rapidigm India is also planning to invest in expanding its current facilities in India and also open up two more centers in Bangalore and Hyderabad. Till now, the company has invested about $10 million in its India operations.

Rapidigm director Jitendra Tanna said, “We are looking at investing about $8 million in next 18 months. With the new centers, Rapidigm India's headcount is expected to reach 1,800-2,000 by December 2006. The Hyderabad center is expected to start operating in the next 30 days while the Bangalore center will become operational in the next two — three months.”

The company also plans to open offices in Dubai and UK in a bid to expand its operations further.

Tanna said, “In UK, we are finalizing the paperwork, while in Dubai we are looking at the facilities. We have been doing business in these places with our partners but now want to go there ourselves to get the business.”

Rapidigm currently provides niche services across many technologies and service areas within the business information technology paradigm. Going forward, it also wants to enter the volume business and provide support and application outsourcing services also.

Tanna said, “Slowly we will move into the volume business also — the support kind of a model where we will provide 24x7 application support.”