Vedams setting up $2mn facility in Hyd

Vedams Software Solutions India Private Limited, a 100 per cent subsidiary of Vedams Inc, is setting up a technology facility in Hyderabad at an investment of $2 million. The facility will focus on software development and systems testing.

According to Hemendra Allu, director, Vedams Software Solutions India Private Limited, the 20,000-sq ft facility will have a capacity to house 200 people. "The facility will be ready in nine months and we plan to increase our headcount to 200 within the next two years," he added.

Vedams Software Solutions is an offshore IT consulting and software development company that provides Internet-based strategies and enterprise storage solutions. It currently employs around 40 in Hyderabad.

"We ended the last year with revenues of close to $1 million and will be closing the 2005-06 fiscal with around $1.5-million revenues," Allu said.