Infotech mulls acquisitions

March 13, 2010 12:19 am | Updated 12:19 am IST - HYDERABAD:

Infotech Enterprises, specialising in engineering and geospatial services, is looking at aggressive acquisition strategy in line with the thinking of its shareholders.

Company Chairman and Managing Director B. V. R.Mohan Reddy told reporters here on Friday that the company however would only focus on value buying with about Rs.400 crore cash reserves and roughly about Rs.40 crore being added every quarter.

He said a couple of buyouts could happen in the first quarter of new fiscal. On the recovery of the IT sector with recession easing, he said it had been slow and it would take some time to achieve impressive growth the sector was used to at one point of time. The fourth quarter of the current fiscal would be flattish compared to the third quarter though the overall annual growth would be better than that of last year.

Infotech, while continuing to focus on engineering services which accounted for 66 per cent of its overall revenue, would look at avionics and nuclear power engineering as major thrust areas, he said.

Apart from its expertise in aerospace in terms of aircraft engine and sound support, it was now eyeing cockpit electronics. With focus shifting to nuclear power plants, nuclear power engineering offered huge opportunities world-wide including India and these plants would require a sizable amount of customisation.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.