 "Co-operative society-run IT company to foray into US, Europe")
Kerala-based Uralungal Labour Contract Co-Operative Society (ULCCS) is all set to export IT solutions to US and Europe through its IT arm here, eyeing a turnover of Rs 500 crore in five years.
It was launched by eminent social reformer Vagbhatananda with 14 members with an initial investment of 37 paise in 1925 in Vadakara in Kozhikode district, set up Technopark-based UL Technology Solutions (ULTS) in 2012.
ULTS has now become a leading IT/ITES solution provider for a number of public and private enterprises including Delhi Metro Rail Corporation (DMRC) and is planning to foray into Western markets in the areas of healthcare, transport and GIS by mid 2016.
The IT company, which began with a humble investment, is also targetting to achieve Rs 500 crore business volume and create 1,000 jobs by FY 2019-20, a top official said.
It had achieved a turnover of Rs 25 crore last year and is expected to touch Rs 70 crore this year.
ULCCS Chairman and Managing Director Rameshan Paleri said ULTS had become the most prospective initiative of the Society and have great expectations on the IT venture.
"Though the Society had been launched as a group of unskilled labourers, we have decided to diversify our products in the later years. ULTS is one of the most successful products of our diversified plan," he told PTI.
According to Jithesh, Chief Operating Officer, ULTS, their core objective was to be a global partner for enterprises by delivering latest, advanced and quality IT solutions at an affordable rate.
The company has now grown to become a successful IT firm employing 65 permanent professional and 40 indirect employees.
"The main focus of ULTS is on delivering IT based solutions for health, transport, e-governance and utilities. We are also actively involved in providing comprehensive geospatial solutions," he said.
It has implemented some of the flagship projects in e-governance like Fleet Management System and Online Passenger Reservation for state-run Kerala RTC, Enterprise Hospital Management for Pariyaram Medical College and Kozhikode District Cooperative Hospital, Enterprise Asset Mapping for Kerala State Electricity Board among others.
On their expansion plans, the official said the company was at present focussing on South Asia and Middle-East.
"We have already bagged a major project of Rural Areas Electricity Company SAOC (RAECO) in Oman. We have also started business marketing in Dubai, Malaysia and Indonesia. The next year we are planning to foray into western market," he said.
