Credit: Special Arrangement
Bengaluru: Hitachi Group company GlobalLogic aims to accrue $1 billion in revenue from its India business in a 3-year timeframe, company managing director and head for India and Asia Pacific, Piyush Jha, told DH on Thursday.
In FY24, the India arm is expected to deliver a double digit growth to add to an overall topline target of over $1.8 billion collectively.
The software and engineering services company, which employs nearly 50% of its workforce in India, is also looking to increase its headcount to 20,000, from 14,200 currently.
“We rely on India for talent and innovation. Some of the coolest innovations come out of India,” Jha underscored.
Japanese multinational conglomerate Hitachi acquired GlobalLogic in 2021, at a $9.6 billion valuation. “We were always a PE (private equity) backed firm and getting into the Hitachi infrastructure helps us plan long term...helps us acquire companies that we want to acquire because there is a backing that we can utilise,” Jha explained.
GlobalLogic, which announced the upcoming acquisition of Australia-based engineering firm Katzion on Wednesday, is also in talks for at least two more acquisitions soon. One of the two may be announced as early as next week, Jha said.
The US-headquartered company currently operates out of 7 locations in India - Noida, Gurugram, Bengaluru, Hyderabad, Nagpur, Pune and Chennai. The future roadmap of the firm involves establishing a hub and spoke model around these pincodes.
“We would intend to go to tier II/II cities, close to our hubs/talent hotspots. This strategy because during Covid-19, a lot of the talent that we hired has become diverse in terms of where they live and all the talent, all the time necessarily does not intend or want to move to the metros,” Jha elaborated.
GlobalLogic is slated to kickstart the process with a spoke for its Hyderabad hub within six months and then replicate the model in the remaining six locations.