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L&T Infotech is considering setting up a software development centre in West Asia during the current financial year. This will be a support centre for the company's headquarters in India.
L&T Infotech is the IT arm of the engineering & construction major Larsen & Toubro. Right now, L&T Infotech serves its and the parent company's clients in the Gulf from India.
"We have identified Qatar as a favourable region to set up a software development centre in the Gulf. Right now our revenues from West Asia are negligible. However, with the opening of the centre, we expect our revenues from the market to cross $ 15 million by 2008," said a senior official in L&T Infotech.
L&T chairman AM Naik recently inaugurated the company's global head quarters in Mumbai. Five new software development and technology centres are being developed in Mumbai, Navi Mumbai, Chennai, Bangalore and Faridabad.
L&T Infotech is targeting revenues of $250 million by the end of this financial year and $1 billion by 2010. It is also open to growing by acquisitions.
Currently, about 97 per cent of its infotech business comes from international operations with North America contributing 67 per cent.
Gulf is a market of prominent focus for the group. Oil, gas and infrastructure development will be major areas of development for L&T in the region.
International operations would contribute to 25 per cent of the group's overall revenue, of which more than 60 per cent will be generated from the Gulf, said company officials.
L&T's other plans in the Gulf include acquisition of engineering and manufacturing companies and setting up of a design and engineering centre in Dubai.