vengabeats
Nilesh Nagdev
Larsen & Toubro has big plans for its software division. L&T Infotech plans to become a one billion dollar company by 2011 and to list in the first half of 2008.
At the inauguration of its 100-crore rupee global headquarters in Mumbai, Chairman, Anil Naik said L&T Infotech would join the billion dollar software club by 2011.
He said launching an IPO for L&T Infotech would help to unlock shareholder value and let retail investors participate in Larsen & Toubro's success.
AM Naik, Chairman, L&T Infotech, said, "We are growing at the rate of 45 to 50 percent and we will have revenues of $ 450- 500 million before we go to the market."
In preparation L&T Infotech will double its staff strength adding 9200 engineers at six locations in India. It will seek acquisitions. L&T Infotech's CEO VK Magapu said his company would prefer to acquire a company with revenues of about 50 million dollars.
VK Magapu, Chief Exec, L&T Infotech, said, "We are looking at niche companies which will deliver immediate synergies coupled with offshore expertise."
source: PYT
At the inauguration of its 100-crore rupee global headquarters in Mumbai, Chairman, Anil Naik said L&T Infotech would join the billion dollar software club by 2011.
He said launching an IPO for L&T Infotech would help to unlock shareholder value and let retail investors participate in Larsen & Toubro's success.
AM Naik, Chairman, L&T Infotech, said, "We are growing at the rate of 45 to 50 percent and we will have revenues of $ 450- 500 million before we go to the market."
In preparation L&T Infotech will double its staff strength adding 9200 engineers at six locations in India. It will seek acquisitions. L&T Infotech's CEO VK Magapu said his company would prefer to acquire a company with revenues of about 50 million dollars.
VK Magapu, Chief Exec, L&T Infotech, said, "We are looking at niche companies which will deliver immediate synergies coupled with offshore expertise."
source: PYT