Infotech Enterprises - Updates
Infotech Enterprises Ltd has informed BSE regarding the summary of the interview given by Mr. BVR Mohan Reddy, Chairman and Managing Director of the Company that appeared in DNA Money:
“- Infotech Enterprises Ltd expects revenues of $ 220 million (Rs 951 crore) in 2008-09 (April-March), chairman and managing director BVR Mohan Reddy said “We are expecting nearly $ 140 million (Rs 605 crore) of revenue from engineering service and $ 80 million (Rs 346 crore) from geographical information solutions space,” he said.
- Infotech has already signed up orders worth $ 80 million in the engineering services space, and $ 20 million orders are in final stages, while the Company is chasing additional $ 40 million orders this year. The engineering and geographical information solutions Company is expecting orders worth $ 200 million - $ 300 million in the next two-three years, he said.
- The Company is now mulling the acquisition of a German automotive, solutions Company at an investment of $ 20 million - $25 million, he said. CMD said. “We have Rs 315 crore of cash in hand. Our aim is to buy four Companies in 2008-09.”
- Infotech Enterprises plans to hire 1,500 employees during 2008-09. This addition will take the Company’s total staff strength to 8,800.”
Tags: Infotech Enterprises