Diversified conglomerate Larsen and Toubro's information technology arm Larsen and Toubro Infotech Limited aims to garner revenues worth $350 to $400 million by 2008, before it expects to enter the capital markets.
"We aim to tap the capital markets by March 2008. But, we are looking forward to increase our revenues ($350 to $400 million) from present $175 to $180 million. Our ultimate aim is to become a billion dollar company by end of the decade," L&T CMD Anil Naik told reporters.
The company, whose software solutions and services divisions have grown at 44 per cent last fiscal, inaugurated its global headquarter at its Powai campus in Mumbai on Friday.
"L&T is spending around Rs 600 crore (Rs 6 billion) this year for development of total six facilities for infotech as well as engineering services. The four infotech facilities are located in Powai, Navi Mumbai, Chennai and Banglore. The engineering facilities are in Powai and Faridabad," said Naik.
The company has developed 1,500 seater facility as Powai and is in the process of constructing a 2,000 seater at Navi Mumbai and 1,300 seater in Chennai. It is developing a 1,000 seater site at Banglore besides its present 1,500 seater facility. Besides these places, the company has major presence in Pune and Mysore.
L&T Infotech's current headcount is about 7,000 and it plans to add 1,500 to 2,000 people this fiscal.
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