Chennai:
Independent software testing company Maveric Systems
Limited has draw up plans to set up centres of excellence
which would focus on research and development, development
of automation tools, next generation testing solutions
for insurance, retail and investment banking. The outlay
for the project is estimated to be in the region of Rs20
crore and will be funded out of internal accruals.
Claiming
to be one of the top three independent software testing
companies in the country Maveric Systems closed FY07
with a turnover of Rs27 crore and an after tax profit
of Rs4.55 crore up from Rs15.5 crore and Rs1.4 crore
earned the previous year.
According
to chief executive officer, Ranga Reddy, the company
has received good orders from the Middle East market.
The company has got orders from Dubai Municipality,
Dubai Islamic Bank and Emirates Bank. The total size
of the three orders is around Rs5 crore. The company
has also opened an office in Ireland.
Looking
forward Maveric Systems hopes to double its revenue
this fiscal. The company has more than doubled its headcount
to 440 people and has launched a new 20,000 sq.ft facility
in Chennai.
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