The Hindu Business Line : Radiant Infosystems plans expansion, IPO

RADIANT Infosystems, a US-based technology products and services company, has embarked on a major expansion of its centres in India, and is mulling a public offer to fuel its growth plans.

The Radiant Infosystems Chief Executive Officer, Mr Venu Myneni, told Business Line that the company planned to grow its India headcount from 350 to 5,000 people within the next two years at its development centres based in Bangalore and Hyderabad. Apart from these centres, the company is planning another centre in the North with an investment of up to $10 million (Rs 45 crore).

Mr Venu said that the company had bagged two major e-Governance projects in the country — Avatar and Rajiv Internet Village project.

"The Rajiv Internet Village project that would come up through public private participatory (PPP) model, with local franchisees, envisages setting up of 5,500 Internet kiosks in Andhra Pradesh. This Rs 70-crore project coming up under the Build-Own-Operate model, will be supported by local entrepreneurs. Radiant will get transaction-based fees, the details of these are being worked out," he explained.

For the last year ended December 2004, Radiant recorded total revenues of $22 million and expected to make about $35 million this year.

The company provides IT solutions to counties, State governments and Federal Government in the US, through an onshore-offshore delivery model.

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