WASHINGTON: As it celebrates Silver Jubilee, Cyient Limited is confident of crossing the $1-billion revenue mark in the next two years. The firm, which registered a turnover of Rs. 3,100 crore, sees its earnings going up by two-three times in the next three years. Addressing a press conference here on Thursday, Krishna Bodanapu, Chief Executive Officer and Managing Director of Cyient, said that the company has been performing well consistently over the few quarters and is confident of reaching the $1-billion mark soon.
He sees no impact of Brexit (Britain leaving the European Union) on the company’s turnover. He said the Board of Directors had approved a plan to make strategic investments into start-ups in niche areas. “We invested in two medical tech companies as part of the Corporate Ventures initiative,” he said.
He, however, refused to divulge the size of the fund that would seek to investments in start-ups. To mark the Silver Jubilee of the firm, Cyient founder and Executive Chairman B V R Mohan Reddy unveiled a 3.0 strategy that is to transform the company focussing on Design-Build-Maintain strategy. “From a three-employee company, we are now over 13,000 employees,” he said. Krishna Bodanapu said the company would hire local human resources abroad. “About 3,000 employees are working in 21 countries and 28 locations. Of this, 70 per cent are locals. Going forward, we would like to increase this to 90 per cent,” he said.
