IT solutions provider LanceSoft India Pvt Ltd said on Friday that it was planning to invest Rs 12 crore (Rs 120 million) in India and will raise its headcount to over 1000 before December 2005.
LanceSoft India, a subsidiary of US-based $50 million LanceSoft Inc, on Friday launched its operations in Chennai.
"The Chennai centre will function as an R&D centre for its vertical segments like telecom, retail, healthcare and will also offer business process outsourcing and call centre operations," chief executive officer of LanceSoft International operations, Selwyn Abraham told a press conference in Chennai.
"We are planning to invest Rs 12 crore in Indian operations. We will be increasing our employee strength to 150 in the next three months and will take it over 1000 by December 2005," he added.
He said the company is targeting to garner a revenue of $20 million through Indian operations and 60 per cent of that revenue is expected from the existing customers.
LanceSoft has a centre in Hyderabad, which is functioning as a back office for the company's internal requirements.
On the strengths of LanceSoft, Abraham said that quality of human resources is the success of LanceSoft. Around 75 per cent of staff is professionally certified and average experience of the staff is six-year plus.