L&T Infotech eyes $400mn topline by '08

Larsen & Toubro Infotech, L&T's IT arm, expects revenues to double to around $400 million by 2008 and spurt to $1 billion by the turn of this decade.

The company is also mulling an intial public offering (IPO) in the next two-year-period.

"We are looking at increasing our revenues to around $350-400 million by 2008 from the present $175-180 million, and expect fast-paced growth in the next two years. Our target is to be a billion dollar company by the turn of the decade," L&T chairman and managing director A M Naik said.

"I believe we can achieve this by delivering consistency, repeatability and scalability in our offerings," he said, adding, the company is planning to tap the capital markets by March 2008, he said.

"L&T Infotech will focus on BFSI, manufacturing and communications industry segments. In the manufacturing space, we are looking at energy and petrochemicals, hi-tech, auto and construction equipment, packaged goods, industrial products and process industries. We believe these segments offer tremendous growth opportunities and we should be able to realise our revenue targets with our domain-specific offerings since, as a major theme, we are moving from business to IT," he said.