Online edition of India's National Newspaper
Tuesday, Jun 12, 2007
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Online edition of India's National Newspaper Tuesday, Jun 12, 2007 ePaper |
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Business
BRAND IMAGE: A. M. Naik, Chairman of L&T Infotech at the launch of the new brand identity for the company in Mumbai on Monday.
MUMBAI: L&T Infotech, the IT arm of Larsen & Toubro, will invest about Rs. 1,000 crore for expansion in the next three to four years and is eyeing a revenue of $1 billion (over Rs. 4,000 crore) by 2010. "We have set itself a target to be a $1 billion company in the next three to four years. We have already implemented a five-year strategic plan, running up to 2009-2010,'' L&T group and L&T Infotech Chairman A. M. Naik told reporters here on Monday.
Investment
Mr. Naik was inaugurating the company's new 1,900-seat capacity software development centre, built in Navi Mumbai at an investment of Rs. 60 crore. Elaborating on the capital expenditure plans, he said: "The company would be investing Rs. 500-600 crore on infrastructure and another Rs. 200-300 crore in developing engineering services in the next three to four years.''
Value creation
"We want to play the game of value creation and not a volume player,'' Mr. Naik said. L&T Infotech plans to get listed on the bourses in the next 12-18 months. L&T Infotech is also planning to raise the headcount to 20,000 from the present 7,200, Mr. Naik said. "We want to raise the contribution of L&T Infotech in our total projects from 6 per cent in 2007 to 10-15 per cent in the next three to four years,'' he said, adding that the group had $5-billion worth of projects on hand right now. L&T Infotech's new logo, which was unveiled here, has a multifaceted 3D L&T medallion and a crisp italic logotype communicating agility and growth. The brand's primary colour is a vibrant, optimistic yellow. — PTI
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