Date:01/10/2004 URL: http://www.thehindubusinessline.com/2004/10/01/stories/2004100101660500.htm

Back Newgen Soft to focus on marketing

Moumita Bakshi

New Delhi , Sept. 30

NEWGEN Software Technologies Ltd said it has earmarked an investment of Rs 15 crore this year towards marketing activities and building up delivery capabilities.

"Earlier this year, we had 450 professionals, and since then we have recruited 100 more people. By March 2005, we will be adding 100 more for delivery and building solutions around product. These will be business analysts, engineers and support people," Mr Diwakar Nigam, Managing Director of Newgen Software, said.

Newgen, which delivers end-to-end solutions in areas of imaging, document management and business process management, clocked revenues of Rs 35 crore in 2003-04. "We expect the revenues to touch over Rs 55 crore during the year ending March 2005," he said.

Mr Nigam said the growth would come from product licences and implementation revenues. "The growth rate this year would be higher than in the previous year," he said.