Chennai-based $45 million IT services and product firm Bahwan CyberTek plans to set up its second development centre by June in Chennai.

At present, the company operates a development centre in Chennai where close to 300 people are employed. The Chennai centre accounts for 90 per cent of the software development work being carried out by the company.

“We are constructing a 1,500 seater building near the IT Corridor in Chennai. We expect the building to be fully occupied by our staff over the next three years,” Bahwan CyberTek CEO S Durgaprasad said.

The company intends to leverage on the software talent in India for growth. “We are also planning to expand our presence beyond Chennai. We may consider Bangalore for our third development centre. But it is yet to materialise,” he added.

Bahwan CyberTek has sales offices in Bangalore and Mumbai. India accounts for 10 per cent of the company’s revenue. Some of its clients include Canara Bank, ONGC, Hero Honda, Bank of India and TVS Group.

“We are looking at BFSI services for growth in India. We are already in discussion with most of the banks in India to deploy our products and services,” Durgaprasad stated.

While North America generates 25 per cent of the company’s revenue, the rest of the world accounts for close to 60 per cent. The company is active in the West Asian region where it is engaged in providing logistics and supply management software services.

“We are servicing key clients such as Shell and Petroleum Development of Oman. We expect more orders from the West Asian region since we have a strong local presence. More than 600 of our employees are working in the West Asian region,” he pointed out.

Last fiscal, the company registered $46 million revenue and it is expected to touch $60 million this year. Source: