The dark cloud of a slowing down economy has a silver lining after all. If you look at India at this point of time, the economic slowdown is impacting almost all the sectors but at the same time the government spending on IT (information technology) has been increasing.
There are a number of projects, including unique identification number (UID), and Restructured Accelerated Power Development and Reforms Programme (RAPDRP), which is aimed at modernisation of the power distribution system in India and digitisation of property records.
We are working on an urban property ownership records project where we are managing the urban property records in four towns of Karnataka.
It is a close to Rs 10-crore public private partnership project where the company will make the investment and recover the same over the next few years through a fees levied on each transaction going forward.
I am not surprised that while the Indian IT industry has posted a growth of around 8- 10 per cent on the export front, the sector - despite the talk of a slowdown - has been growing in the region of 14 to 16 per cent.
Infotech Enterprises provides engineering solutions, including product development and lifecycle support, process, network and content engineering to major organisations worldwide.
We have over 10,000 associates (employees) across 36 global locations. We have a client span across multiple industries such as aerospace, consumer, energy, medical, oil and gas, mining and other industries. The company saw an increase of 21 per cent in revenue to Rs 1,873 crore during FY13.
Going forward, I hope the company would maintain, if not better, this pace of growth.
BVR Mohan Reddy
Chairman & MD, Infotech Enterprises