LGS Global Limited (formerly Lanco Global Systems Limited), a city-based provider of IT services and solutions, is hopeful of doubling its revenues from India to Rs 200 crore in the current financial year on the back of the mission-mode projects from the Centre, which it is pitching for.
The company is piloting a biometric-based solution to eliminate fraud and mismanagement in the public distribution system (fair price shops) for the food and civil supplies department of Andhra Pradesh. It is currently implementing the solution at a fair price shop in Balanagar, Hyderabad.
“The Centre has called for tenders for similar deployments in states including Puducherry, Bihar and Rajasthan. While we have been shortlisted for Bihar, we are at present working on the economics for Rajasthan,” Rao Karusala, managing director of LGS Global, told mediapersons here on Tuesday.
LGS has entered into an exclusive tie-up with Malaysian company Multimedia Glory Sdn Bhd for its patented technology ‘Karsoft’ to modernise the public distribution system in the country. Andhra Pradesh alone has 48,000 fair price shops, and the biometric system, once implemented, could save about Rs 15,000 crore unaccounted money, he added.
Karusala said the company had applied with the Unique Identification Authority of India for empanelment. “Besides, we are participating in the National Rural Health Mission, wherein Rs 36,000 crore is being spent. We are eligible to participate in at least 70 tenders,” he said.
Given this decisive market, he said, the company was expecting its orderbook from India to swell to Rs 400 crore this fiscal, from Rs 200 crore last year.
LGS Global’s scrip was down 2.84 per cent to end the trade at Rs 135.30 on the BSE on Tuesday, over the previous close of Rs 139.25.