Fiscal 2000-01 saw this
Bangalore-based company increase its presence in the US and Europe. Developed markets, including Japan, accounted for 62% of revenues, while another 13% came from
APAC. I-flex recently set up its APAC headquarters in Singapore to push regional sales.
Overall revenues grew 54%, from Rs 194 crore in 1999-00 to Rs 303 crore in 2000-01, while net profits stood at Rs 109
crore, up 58%. Packaged software accounted for 54% of the revenues, of which nearly 98% came from Flexcube and
MicroBanker, while the rest came from its project
monitoring and tracking system Promotr. Installation of its flagship product,
Flexcube, doubled during the year–70 financial institutions now form the customer-base worldwide. The company tied up with HDFC Bank for a JV to offer Flexcube to the banking and financial services industry, based on a service provider model. Recently, it also entered into a marketing alliance with IBM and picked up a 26% stake in Command International Software, a wholly-owned subsidiary of CIS of the US to gain entry into the global insurance market.
PERFORMANCE HIGHLIGHTS |
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FACT SHEET |
CEO (INDIA OPERATIONS): Deepak Ghaisas START-UP YEAR: 1989 PRODUCTS & SERVICES: Banking and financial software products and related consultancy and development services EMPLOYEES: 1,590 BRANCH OFFICES: 6 ADDRESS: Unit 10/11, SDF1, SEEPZ, Andheri East, Mumbai 400096 TEL: 8291020 FAX: 8292767 WEBSITE: www.iflexsolutions.com |