Business Daily from THE HINDU group of publications
Tuesday, Feb 26, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Feb 26, 2008 ePaper | Mobile/PDA Version |
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Info-Tech
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Outlook Mascon Global wants to improve margins via IP-biz
Mr Sandy K. Chandra T.E. Raja Simhan Chennai, Feb. 25 Mascon Global Limited, an information technology company, hopes to be a $1 billion company by the last quarter of 2010 — four times the current year’s size. The company’s chairman and CEO, Mr Sandy K. Chandra, told Business Line, “Our business is growing, and we are adding a number of clients. There is no reason why we cannot achieve the $1 billion target in the next two years," he said. Mascon develops and implements end-to-end IT solutions for clients, ranging from Fortune 500 companies to start-ups, from diverse industry segments. Revenue increase will come from the company’s focus sectors of banking and financial services, telecom, manufacturing and healthcare, he said. Mr Chandra said the company has around 4,000 employees, including 1,500 working oversees. To reach revenue of $1 billion the company needs to have around 12,000. “We are working towards this number,” he said. Gross margins for Mascon was currently around 30 per cent. In the next two years, the strategy is to take it 36-39 per cent through the IP-led business, he said. IP investmentMascon will invest around $200 million in the next couple of years on the IP-led strategy and on infrastructure across the country. In the last one year, the company raised $15 million from private investors and another $50 million through convertible bonds. Raising funds will not be a problem, he said. In the company’s 2006-07 annual report, Mr Chandra said the company’s `Four S’ framework encompassing Systems, Services, Strategy and Solutions components will be a guiding roadmap to reach the $1 billion revenue. More Stories on : Outlook | Software
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