ValueLabs to be 7000-strong by 2010

HYDERABAD: Software services company ValueLabs is on an aggressive growth path. Charting down a five-year growth strategy starting next financial year 2005-06, the company intends to be 7,000 strong with a target revenue base of around $150 million. The company is also planning to set up facilities outside Hyderabad to fuel further expansion.

"We would kick-start our operations from our new facility in June 2005 that can host 1,500 employees. And to further accommodate the increasing number we are planning to have another center for which we had requested the state government to allot anything between 20 to 40 acres of land. We intend to invest more than $20 million for this facility," said ValueLabs CEO Arjun Rao.

For business continuity, the company aims at setting up facilities outside Hyderabad in a couple of years. "Preferably, that would come up in Chennai, three to four years down the line. We have charted out a five-year growth strategy and wish to employ 3,000 to 4,000 in Hyderabad and the rest out of Hyderabad. However, the investment plans for an additional facility would be looked up at that point of time," explained Rao.

Foreseeing the optimistic business outlook in the near future, the company is building its capacity to address the growing customer base. "Infrastructure is just one part of the requirement, while quality of service, delivery on time and lot of similar other aspects are also taken into consideration to equip ourselves better," explained Rao.

Explaining about the growth in revenue rate, Rao said, “We are growing more than 100 percent year-on-year and are targeting revenues of around $ 40 million for the financial year 2006-07 and be a $ 150 million company by 2010 year end.”

- CyberMedia News