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Rediff.com  » Business » Altair to hire 100 in India

Altair to hire 100 in India

Source: PTI
September 28, 2004 16:48 IST
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Altair Engineering, a leading global product design and technology company, proposed to increase its staff strength to 100 in India by the end of this year besides planning to spend around $3 million in the next two years on its operations in the country.

"Altair currently employs around 65 people in India and the total strength will be increased to 100 by the end of this year," Rajneesh Shinde, marketing manager of the US-based company, said.

Altair, a premier developer of computer aided engineering software for product development, commenced its Indian operations in 1999 with 45 employees.

Its enterprise, process management consulting business line, assists companies in mapping and improving existing product design processes and implementation plans through simulation, automation and optimisation technologies.

Altair has located its headquarters at Bangalore for the Indian and South East Asian operations. Its major customers in India are in the auto sector.

"There is a paradigm shift in the Indian auto industry in terms of new designs, new products etc. Adoption of simulation, automation and optimisation processes can result in lot of cost-saving in the industry, Shinde said.

Some of its clients include GE India Technology, DaimlerChrysler India, GM Technology Centre, Tata Motors, Mahindra & Mahindra, Maruti Udyog, TVS Motors, L & T, Infosys Technologies, Satyam Computers, Eicher Motors and educational institutions like IITs, IISc and RECs, etc.

Altair's Indian operations consists of an engineering centre, software development testing, international support centre and a grid computing competence centre.

The company's current revenue is Rs 20 crore (Rs 200 million) and is targeting to garner a revenue of Rs 30 crore (Rs 300 million) by next year.

While talking about the market potential in India, Shinde said that product development was booming in the country. "The CAE market is growing at a rapid rate. We are growing at 60 per cent compared to industry average of 30 per cent."

Altair has invested close to $4 million in India and is planning to spend more. "We have budgeted to spend around $3 million over the next two years mainly on software development and engineering activities," he added.

"Indian operations are very important for the growth of our global business," Shinde said, adding Indian sales office handled India, SAARC and South East Asia. "All of these are growing areas and are of strategic importance to our worldwide revenues."

Altair's global headquarters is located at Michigan in the US. Founded in 1985 as a product development consulting firm, Altair has five lines of business and is serving 1,300 clients worldwide, including Fortune 500 companies, according to the company.

"Our strength is in product strategy, design and engineering, test and development. We are working in a niche area and we don't want to be seen as just a IT solution provider," Shinde added.
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