Efkon to open R&D centre in Pune

Austria-based intelligent transportation systems (ITS) provider Efkon AG is going to set up centre for excellence in Pune for its global highway traffic management system by 2007.

Pushkar Kulkarni, CEO, Efkon Group India, told Business Standard that the centre would be involved in systems development, quality assurance, life cycle management (support system), testing of products for highway traffic management system and 24x7 service centre.

"The centre would entail an investment of Rs 15-25 crore. Spread over 10,000 square feet, it would employ 100 people for research and development by 2007," said Kulkarni. Efkon AG has presence in India via a group of companies held cohesively under Efkon Group India.

Among them, ITS Clearing House and ITS Solutions Ltd are fully owned subsidiary whereas I-Pay Clearing Services is a joint venture with Efkon AG holding 74 per cent stake. Efkon Group India is also planning to merge ITS Clearing House and ITS Solutions (P) Ltd into a single entity, Efkon India, shortly.

With most highway projects coming towards completion, Efkon is gearing up to achieve Rs 100 crore within next few years, Kulkarni said.

"We recorded a turnover of Rs 30 crore in 2005. This year, we are expecting to grow at 40 per cent, and compound annual growth rate of 60 per cent over the next few years from 2007 onwards, as several highway projects is approaching completion," he said.