Tata Elxsi eyes $300-400 millions from global deals
Mumbai: Tata Elxsi, the visual effects and animation arm of the Tata Group, expects revenues to touch $300-400 million (Rs. 1,860 crore) from its global operations over the next three-years, a top company official said.
The software design services firm aims to expand its presence in the U.S. in line with its global growth strategy, which includes opening more studios in high-growth markets. "We expect to get $300-400-million in topline over the next three-years, and we intend to keep doubling it every three years after that," said Tata Elxsi's CEO and Managing Director, Madhukar Dev. "We would open more centres in other parts of the world depending on the work-flow coming in from the U.S. and Europe.
Tata Elxsi has a global delivery footprint through offices and centres in India, the U.S., UK, Japan and Germany. The Bangalore headquartered company will open a new visual effects (VFX) studio in Santa Monica, U.S., next week, in addition to existing studios in Mumbai, Tokyo, and UK.
"We want to cater to the overseas market, especially clients in Hollywood, in a much more substantial manner. The studios in Mumbai and Santa Monica will work in tandem to provide a cost advantage to clients," Dev said. The company has spent $5 million from internal accruals to buy high-quality equipment for servicing the overseas market.
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