Nucleus investing Rs 20 cr in software product development

Chennai: The Noida-based Nucleus Software Exports Ltd will invest Rs 20 crore in infrastructure and another Rs 20 crore in software product development in the current fiscal ending March 31, 2008, according to its CEO and Managing Director, Mr Vishnu R. Dusad.

The investment in infrastructure includes the regional development centre opened at Ambattur Industrial Estate in Chennai to focus on development and implementation of FinnOne suite of products that is used in retail banking by customers like ICICI.

The IT company moved to a bigger facility to double the employee seat capacity to 200.

The company has around 1,600 employees globally, Mr Dusad told newspersons.

Nucleus reported revenues of Rs 227 crore last fiscal and Rs 138 crore in the first half of this year.

Around 60 per cent of revenue comes from Japan; 20 per cent from West Asia and South East Asia; 10 per cent from the US and Europe and balance 10 per cent from India. At present, around 70 per cent of the revenue is from IT products and the balance from IT services. In the next four years, the plan is to become a full-fledged IT product company, Mr Dusad said.