Date:18/05/2006 URL: http://www.thehindubusinessline.com/2006/05/18/stories/2006051803330400.htm

Back Thinksoft sees 75 pc growth in revenue

Our Bureau

Chennai , May 17

Thinksoft, the Chennai-based independent software testing company, is expecting 75 per cent revenue growth to about $14 million (Rs 63 crore) during the current year from $8 million (Rs 36 crore) last year, according to its CEO, Mr Asvini Kumar.

The company will add about 200 people to take its total employee headcount to 700 by the year-end. It is opening a German subsidiary and expanding sales office in the UK, he told newspersons.

According to Mr Kumar, with internal cost pressure and market demands for reduction in TCO (total cost of ownership) — a financial estimate designed to direct and indirect costs related to the purchase of any capital investment such as computer software or hardware — services of specialists, such as Thinksoft, are sought after.

Mr Kumar said annually about $300 million (Rs 1,350 crore) worth of testing services is done out of India. Of this, major share of revenue is taken away by large companies cross selling their services to clients and back end testing centres of multinational companies. About 25 per cent of the market is shared among specialists such as Thinksoft, he said.