Ricoh India expects its revenues to rise 58 per cent to Rs 1,000 crore in the current financial year ending March 31, helped by growth in sale of laser printers, IT services and managed document services.
A subsidiary of USD 20 billion Japan-based Ricoh Company, it had posted net sales of Rs 633.12 crore.
"We expect to achieve our target of Rs 1,000 crore in revenues for this fiscal, which is being helped by our new business offerings that are aiding our core business," Ricoh India CFO and Senior VP Manoj Kumar told PTI.
The key growth drivers include laser printers, IT Services, and Managed Document services, among others, he added.
Aiming to tap the small and medium enterprises (SMEs) and large enterprises, which are looking at growing their business and expand rapidly into tier III and IV markets and achieve cost efficiencies, Ricoh India today launch the new 360 degree experience.
Explaining the concept, Kumar said: "In today's dynamic business scenario, firms are being cautious before investing in a new technology and are focusing more on ROI."
He added: "Ricoh has adopted a new business framework which extends from IT infrastructure to Business Process Consulting. We help them manage their end-to-end IT solutions and also offer them work-flow solutions."
Ricoh said it expects India's IT spending to reach USD 71.3 billion in 2014, which is a 5.9 per cent increase over 2013 forecast with most of the growth driven by spending on IT service.
"India is one of the most crucial markets in the World's region for Ricoh. Organisations of all sizes from SMEs to large enterprises are looking at growing their business and expand rapidly into tier III and IV markets. We want to be a part of this growth journey," Kumar said.
