Home BusinessGlobalLogic expects to double revenues in 3 years
Software product development company GlobalLogic plans to double its total revenues in three years by growing at a compounded average growth rate (CAGR) of 40 per cent, through increased focus on research and development in telecom, homeland security and medical electronics.
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“We are a more than $100 million (Rs 460 crore) company now, but plan to become two-three times the size in three years to be in the $300 million (Rs 1,390 crore) range. We have been growing at 40-45 per cent CAGR and expect to grow at the same rate over four-five years,” said Shashank Samant, president, GlobalLogic.
India will be a growth market for the company, with around half its people based in the country in three years. GlobalLogic has a headcount of 3,000 people.
India contributes around 48 per cent to the company’s total revenues and the contribution is expected to increase to 60 per cent. It is expanding its global footprint by opening centres in Chile, Uruguay, Brazil and areas around Ukraine, where it already has a presence.
“Geographical expansions are determined by language capabilities, especially English, good educational infrastructure for hiring local talent and, third, our ability to provide good intellectual property rights. We intend to grow our existing centres further, as we have a good coverage from the delivery point of view. We will add people in our India centres but getting the right talent is the biggest challenge,” said Samant.
He said China could give scale to the company but was not a mature market. The India market, he said, was a growth area for the company.