ValueLabs to invest $7 million to build new facility
TIMES NEWS NETWORK [Wednesday, March 10, 2004]
HYDERABAD : Privately-held software services company, ValueLabs plans to invest $7 million over the next 12 months to build its new facility at Hi-tech City in Hyderabad . The company also plans to double its headcount to 600 professionals by the end of 2004 and touch 1,000-people mark by 2005.
ValueLabs offers software services that include application development for the internet, mobile internet, interactive television, besides quality assurance and BPO services.
The company’s CEO Arjun Rao said the company currently operates out of a 40,000 square feet facility and the new investment would be to set up its own building at Hi-tech City . The new 1.50 lakh square feet facility under construction will be ready for occupation in 12 months.
The eight-storied facility of ValueLabs will be flanked by Oracle and Dell on either side. “We have been growing at 100% year-on-year both in headcount and revenues. Currently, we are a 300-people team and on track to reach a strength of 600 by 2004-end” Mr. Rao said. Out of 300 employees, the BPO operations of ValueLabs comprise 70 employees.
ValueLabs has customers in the Enterprise Application, Online B2C Photo, Market Research, Mobile Telecom, Broadcasting/Publishing, and Banking. The company has implemented a mine management system for State Mining Company in Andhra Pradesh.
The BPO operations include technical support and back office market research work. “We have been working on an offshore development model from day one and have perfected the process of onsite-offshore interaction over seven years. We offer end-to-end solutions with application development combined with BPO” Mr. Rao said.