Rank 45: Polaris Software Lab: Once Bitten, Never Shy

Performance Highlights Achieved a growth of around 2% Acquired Orbitech Solutions, a technology subsidiary of Citibank  Strong player in the BFSI segment Startup: 1993 l Products & Services: Software development, BFSI products and retail solutions l Employees: 2544 l Branches: 17 l Address: Polaris House, 244, Anna Salai, Chennai — 600006 l Tel: 8524154 l Fax: 8523280 l Website: polaris.co.in

The Data Inc deal stung, but it did not deter Polaris Software Labs

from taking the acquisition route. However, fiscal 2001-02 is just a blip, a

growth rate of 2% compared to the 80%-plus growth rate over the years, due to

the tough market conditions. Despite all that, it is celebration time at

Polaris. Close on the heels of becoming the world’s first CMMI Level 5

company, it created corporate history thorough the Orbitech merger–which saw

it emerge as the strong new force catering to the BFSI segment. However, the

actual synergies and revenues coming out of the merger will be seen only in the

coming year. Meanwhile, for the year gone by, the revenues came from across the

world–41% of exports came from the US, followed by Europe with 21%. India and

Asia-Pacific accounted for 16% and 21%, respectively. The company developed 37%

of its projects onsite and 63% offshore.