Technology firm iGATE Patni expects nearly 25 per cent of its overall revenue to come from the product engineering services (PES) business in two-three years.
"We expect almost 25 per cent of our total revenues to come from the PES business in 2-3 years. Currently, about 15 per cent of the revenues accrue from PES business," said iGate Patni Executive Vice-President and Head of PES Satish Joshi.
PES business provides end-to-end product development and product life cycle management - right from research and evaluation, electronic and engineering design, up to sustenance and maintenance. The business caters to sectors such as auto, industrial automation and control, consumer electronics, mobiles and semiconductor.
The company is expanding in the PES space, specifically looking to strengthen the customer base in EMEA (Europe, Middle East and Africa), A-PAC (Asia Pacific) and Japan.
Currently, EMEA and Japan markets constitute more than 30 per cent of total PES business, Joshi said.
iGATE Patni closed 2011 with revenue run rate in excess of $1 billion.
On the future plans, Joshi said: "We are also looking to expand into new industry segments including Media & Entertainment, Plant design, Plant Automation and Mining."
To a question on the Indian market, he said the domestic market was an important focus area for the PES business. "The company is looking to increase its focus on the Indian market, especially in the Industrial Automation, Transportation, Energy and Medical & Healthcare sectors".
He also said the company planned to recruit 1,500 people for its PES division over the next two years. Currently, the PES team has a strength of over 3,200.
The PES business of iGATE Patni would be expanding in new markets and mining deeper into existing customers. "The company is looking at becoming most preferred strategic partner for entry into emerging geographies. iGATE Patni will also be investing in high-end tools, R&D infrastructure and training facilities," he said.