Aztec Software to invest Rs 50 crore in Hyderabad

Our Regional Bureau / Hyderabad January 17, 2006
Bangalore-based Aztec Software will be investing Rs 50 crore in Hyderabad in the next three-four years.
The product engineering company is targeting a headcount of 1,500 in Hyderabad during the same period and may also set up a campus in the city in the near future.
Addressing the media, Srinivasan Chandrasekar, senior vice-president and head of India business, Aztec Software, said, “At present, we have a 250-seat centre in Hyderabad but we plan to have 1,500 people on our rolls in the city in the next three-four years. We will be investing Rs 50 crore for this purpose.”
With regard to setting up of a campus, Chandrasekar said that the company was looking at it but nothing had been finalised as yet.
Aztec Software employs close to 2,000 people globally and is looking at doubling the number within the next three-four years. The company may also look at the inorganic route to fuel its growth strategy.
According to V Chandrasekaran, chief executive officer and managing director of Aztec Software, “We have grown by 100 per cent this year and hope to continue with the growth momentum.”
“We will also be adding to our technology offerings by entering the wireless and embedded technologies space,” he added. Aztec Software’s service offerings include software product engineering, testing, quality engineering, and implementation engineering, with a technology focus on data management, web services, security and identity management etc.
The company earned revenues of $11.7 million in the third quarter of this financial year.
R&D as product engineering market was expected to grow to around $12 billion by 2010 and Aztec was looking at grabbing a significant portion of this pie, Chandrasekaran said.