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Bangalore, March 30 3i Infotech plans to expand its reach in the domestic market by targeting newer verticals — utilities and infrastructure — using the technology platform that came with the acquisition of the US-based Regulus Group.

Mr Anirudh Prabhakaran, Executive Director and President of South Asia business for 3i Infotech, said the company was in talks with several power and telecom companies to offer bill generation and printing services.

The company sees huge potential for document processing in the Indian market that’s characterised by large volumes, he said.

Last April, 3i Infotech acquired the payment processing firm Regulus, which serves customers in verticals such as insurance, finance, telecom, utilities and healthcare sector.

The Indian market accounts for about a third of 3i Infotech’s revenues. The banking, financial services and insurance sector contributes to about two-thirds of the company’s earnings in the country with the rest coming from verticals such as telecom and e-governance. For the nine-month ended December 2008, 3i Infotech reported a net profit of Rs 199.77 crore on revenues of Rs 1,694 crore.

Stating that the slowdown has not had any impact on 3i Infotech’s operations in India, Mr Prabhakaran said the company continues to see robustness in market place in telecom and e-governance verticals. “We are seeing lot of opportunity for short-term consulting projects,” he said.

Though the opportunity to sell retail software in the banking sector has come down, 3i Infotech is seeing a lot of traction for its risk management, compliance and insurance products, he said. Recently, State Bank of India implemented the anti-money laundering solution from 3i Infotech across its group covering over 16,000 branches.

3i Infotech is looking at leveraging its widespread presence across the country to sell products and services. The company has some 4,000 engineers across 27 States in the country. Further, the company sees major potential in the infrastructure sector to offer systems integration kind of services.

“Currently, infrastructure may not be the flavour of the season, but we believe in the long-term prospects by positioning our services,” he added.

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