"The company will be investing Rs 20-30 crore in 17 acres of land in a notified SEZ in Jaipur (Rajasthan) for the 1000-seater facility, which would be operational by the end of June-July next year," Nucleus Software CEO and Managing Director Vishnu R Dusad told reporters here.
The firm which earns 70 per cent of its revenue from IP-related product and services today announced a net profit of Rs 16.02 crore for the quarter ended March 31, 2008, a 14.84 per cent growth over the corresponding period a year ago.
The company had a consolidated profit of Rs 13.95 crore in the corresponding period last year.
The consolidated revenue increased by 29.75 per cent to Rs 78.06 crore from Rs 60.16 crore in the corresponding period last quarter.
"The company's exposure to the US market is mere five per cent which helped us to maintain a healthy growth despite a slowdown in the global market," he added.
Almost 50 per cent of the company's business comes from Japan and the rest from India, US, West Asia and Africa.
Nucleus which provides software solutions to the banking and financial services industry, with its flagship product -FinnOne also registered a 46.78 per cent growth in its product business during this quarter.
The consolidated net profit for the year ended March 31, 2008, stood at Rs 288.72 crore, a 30.53 per cent growth over the corresponding period a year ago.
The company recommended a final dividend of 30 per cent that is Rs 3 a share, on post bonus capital.
