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As it acquired the new name Cyient, the 22-year-old Infotech Enterprises now targets a turnover of $1 billion in the next few years.
The company has registered a turnover of Rs 2,206 crore in the financial year 2013-14, showing a growth rate of 18 per cent over the previous year's revenue. For the fourth quarter ended March 31, 2014, the company has registered Rs 595-crore revenue, up 28 per cent.
"I have earlier indicated that we could reach the number by 2016. It might take a little longer but we will achieve that in the next few years," founder and Executive Chairman of Cyient B V R Mohan Reddy said.
Addressing a press conference here on Wednesday to announce the change of name, he said the $ 1-billion dream was reachable if the company could sustain the momentum it achieved in the last 2-3 quarters.
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