Cranes among Asia''s fastest growing ITeS companies: Deloitte

For the third year in succession Cranes Software International Ltd has been recognised as one of the fastest growing technology companies in the Asia-Pacific region by Deloitte Technology Fast 500 Asia Pacific 2005 programme.

This award, instituted by Deloitte Touche Tohmatsu to recognise the fastest growing technology companies in the Asia Pacific region, is the most objective of its type in the TMT space. The company was selected on various parametres including its revenue growth. Cranes' inclusion in the list come on the heels of its ranking as one of the 50 fastest growing in India in the Deloitte Technology Fast 50 India list. The company has also been awarded the 'distinguished application product company award' by the N S Raghavan Centre of Entrepreneurial Learning Centre of the Indian Institute of Management, Bangalore (IIMB) under the aegis of the NASSCOM product forum.

The company has built a significant portfolio of proprietary software and these include leading software brands in the visualisation, analytics and engineering, each of which has a strong position in the global scientific and engineering software segment.

Cranes Software's revenues grew 165 per cent from FY 2003 to FY 2005 and posted operating revenues of Rs163.38 crore in FY 2005, Over the two last years, the company has grown at a CAGR of 63.6 per cent. In the first six months of the current fiscal revenues grew by 46.5 per cent. Its proprietary products make up 80 per cent of total revenues.