Japanese imaging solutions company Ricoh India Ltd plans to expand its IT services vertical “substantially” to achieve a Rs 1000-crore turnover target by 2013-14.
According to Anil Saini, Chief Operating Officer, IT Services, Ricoh India, the vertical currently accounts for 24 per cent of the company’s topline and includes offerings such as information security, software development, cloud computing among others.
“We expect the IT services business to grow somewhere close to our core vertical i.e. office products and solutions by FY14,” Saini told reporters on Friday after inaugurating the company’s business centre in Kolkata.
The facility would be the company’s primary data centre now. Its previous primary centre was in Delhi.
While the company posted a turnover of Rs 633 crore in FY13, IT services vertical’s revenues stood at Rs 153 crore. The core business of office products and solutions contributed 61 per cent to Ricoh India’s turnover at Rs 383 crore.
Saini added the company received nearly 55 per cent IT services business from various government institutions and increasing demands for e-governance projects, data centres and digitisation from such institutions would drive growth in this segment.
Meanwhile, Tetsuya Takano, Managing Director & CEO, said that IT services, laser printer and production printing segments were among the fast growing areas for the company.