Kaashyap Technologies Ltd has informed BSE about the following developments in the course of business:

- The Company is in advanced discussion with a Company with core competency in ERP area in the mid west region of USA which is currently at US $ 20 million and if this takeover materializes then it would have closed the gap of the USA presence in its SAP division. The Company will supplement the USA Company to enable them to have more penetration the SME segment. If this goes through it expect to cloak US$ 35 Million in the next two years from this Company. Besides, the Company is also scouting for a Joint Venture in Philippines for SAP infrastructure, for recruiting people and training them, as it believe these are the emerging IT markets.

- The Company is currently pursuing 2 major projects which are in the pipeline, One from State Government of Karnataka worth Rs 500 crores for 15 years, another from a public sector Company, the order is in a consortium worth Rs 25 crores and it is for two years.

- The Company expect the revenues to touch around $25 million with before tax margins of around 20% in this current financial year and the break up would be around $ 20-22 million from its U.S. division and $ 4-5 million from Indian operations. The Company will be scaling up its consulting division at US from $15 million to $ 60 million in 3 years. And expect revenues of around $ 100 Million by 2010 on consolidated basis.

- The Company is planning to set up two training institutions, an IT security and risk management competency centre and a capital markets training centre. The focus of these Competency Centres will be to develop skills for the leading BSFI (banking, financial services and insurance) players.

- The Capital Market Training Centre is aimed at developing competencies in domains such as investment banking, derivatives, equity and fixed income, so as to develop skills in non-proprietary IT tools and technologies used by the global financial institutions. This would involve algorithm and application development for live stock market situations.

- The Company has already acquired 10,000 sq.ft. premises to build the Competency centre for IT Security and risk management. It is expected that the Competency Centres will bring in US$ 10 million in the next 2 years and Domestic Consulting & Projects will bring in US$ 30 million in the next 2 years.

- The Company is in talks with a patent-pending, new generation anti-malware technology Company, Rudra Technologies Pte. Ltd, Singapore.

- Thereby, the business model will be in four core areas as follows:

1. Projects (SAP, IT Security, BSFI)
2. Consultancy (SAP, IT Security, BFSI)
3. Training (SAP, IT Security, BFSI)
4. Medical Informatics.