SRA Systems to invest Rs 16 cr for new capacity

MUMBAI, Feb 4: Chennai-based SRA Systems is doubling the capacity of software development facility to achieve a turnover of Rs 100 crore for the financial year ending March 2000. It is pumping a sum of Rs 16 crore in expanding development activities and opening three marketing offices in the United States, V Kannan, joint managing director, said.

Kannan said the firm was expecting an 85 per cent growth this year with a turnover of Rs 55 crore as compared to the Rs 31 crore recorded the previous year. Growth in 1997-98 was 68 per cent. The company has undertaken a Y2K project from Moose Heart of USA and is currently evaluating opportunities in the Euro. The future focus of the company would be in the area of internet-based applications, Kannan added.