E-sales solutions provider Reasoning Global eApplications is expecting to more than double its revenue growth in the current fiscal to about $3 million, a top company executive has said.
"We are expecting more than 100% topline growth this fiscal ending March, 30, reaching $3 million," Reasoning Global eApplications Vice-President (Marketing) Jeetendra Joshi told PTI here.
For e-sales solutions, the company uses its flagship product, MartJack, a ready-to-use platform with a comprehensive set of features that helps retailers in establishing and running their e-commerce business. The company, which has more than 3,000 e-stores in its clientele, is bullish on domestic expansion plans and expects to raise its market share from the present 10% to 30% by 2013.
India's total e-commerce market size is about Rs 630 crore, which is expected to reach Rs 2,250 crore by 2012, according to Caris & Company report.
Its prominent clientele include Godrej, Geetanjali Jewellers, Next, Videocon, Base Camp, Mitashi and Ruby London.
Besides, setting up estores for retailers, Reasoning Global also provides entrepreneurial opportunities to people who want to set up their own web stores.
Keeping in line with its expansion, the firm is planning to launch another solution called 'ipaynear' soon.
'Ipaynear' will provide cash collection centres across the country for those who do not use credit or debit card for buying online products.
"We are planning to open 30,000 cash collection centres as an alternate to cash on delivery," Joshi said. The company, which has presence in the US and the UK, is planning to foray into the Gulf countries in FY12 and aims to capture 5% market share in its first year of operations, he said. It recently raised $2.5 million from different high net worth individuals to fund expansion plans, he said. On entering the capital market, Joshi said, "Maybe in another 2-3 years, depending on the market situation and the company's growth."
