Date:25/06/2005 URL: http://www.thehindubusinessline.com/2005/06/25/stories/2005062502200500.htm

Back Prithvi to invest $20 m, hire 1,500

Our Bureau

Hyderabad , June 24

PRITHVI Information Solutions, a Pittsburgh-based IT services provider with a development centre in Hyderabad, has drawn up plans to induct 1,500 people this year and invest $20 million in the planned IT campus here.

The Chairperson of Prithvi, Ms Madhavi Vuppalapati, a first generation entrepreneur, told Business Line that "from a start-up in 1998 with maiden order from Merrill Lynch, we have grown to a $ 67-million company and expect to close this fiscal with revenues of about $100 million."

"From a dominant onsite business development approach, we are in the process of expanding the offshore business. We currently have about 500 people in the US and about 120 resources in the Hyderabad development centre," she explained.

"Though we are debt free and cash positive, we are exploring options to raise resources to meet the expansion plans. This could be a combination of strategic investors or debt or even an initial public offering. By September, we would be able to firm up our plans," she explained.