KPIT Cummins has announced that it is expecting to grow faster than the rest of the software services industry for the fiscal year 2014 with the addition of clients and growing its revenue from its exclusive solution.
The company aims to grow revenue by 14–16% by beating NASSCOM. The company is expecting to achieve revenues of $465-475 million in 2014 from its outsourcing services to the automotive, transportation and engineering industries. It also is expecting to attain net profit of between Rs.230.9 and Rs.238.8 crore, implying a growth rate of 16%-20% in 2014.
Ravi Pandit, CEO, KPIT Cummins, said, "FY13 has placed us in a strong position as we pursue our goal of reach $1 billion in revenues by FY17."
Its fiscal year 2013, revenue grew $410.5 million, 32% from the previous year at $410.5 million beating NASSCOM's revenue data of 11%–14% growth for 2012-2013.
It is also planning to add 1,000 people in 2014. The company added 5 clients in the fourth quarter, taking the number of active customers to 183.
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