Economic Times - Our Chennai Bureau - 11 September 2003

Bahwan CyberTek plans to invest about $5.2 million in the next tow to three years over its Chennai development Centre. The Muscat based software firm, a part of Suhail Bahwan Group, would also increase its staff strength here to 500 by that time.

Mr.S.Durga Prasad, director and CEO BCT said, Bahwan group had so far invested about $5.2 million on its development Centre here, which employs 200 people. The expansion, over the next three years would be through both organic and acquisitions route, he said. The company has identified a land in the city’s IT Corridor, and the construction of the facility would begin shortly. However, the $million investment would not be restricted to building alone, but also for product development. The company has a 300 seat contact Centre in Oman catering to Gulf Air and Oman Tele. As its business expands, it would also set up BPO operations in India, he said.
BCT expects a turnover of Rs 40 core and aims to become a Rs100 crore company by 2005-2006, Mr. Prasad said. It launched three products – Indian banking, financial services and insurance segment. Cuecent Cash switch, inward-outward remittance solutions; Pay Switch, a financial service aggregator; and FINFLEX, financial portfolio management system.

It would market these products through partners, and has tied up wit three so far – Protek soft for Chennai. Team frontline for kerala and Strategic Management Services for Delhi and Mumbai markets.