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Satyam sees big hike in solutions sales

17-November-2000
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Satyam sees big hike in solutions sales

Leading Indian internet firm Satyam Infoway said on Thursday that its Web solutions business is likely to increase its sales six-fold this year, fuelling overall group revenues substantially higher. The solutions unit, which accounts for 20-25 per cent of Satyam's sales, offers medium and large firms a range of services from consulting to designing and implementing solutions that help them leverage the internet for maximum benefit. For the quarter to September 30, it had sales of 103 million rupees out of the firm's total 435.16 million rupees in revenue. Satyam is aggressively focusing on business opportunities in the supply chain and distribution market, the internet banking area and Net-based securities trading. Among the group's clients are UTI Bank and Vysya Bank, consumer goods firms Hindustan Lever and Henkel SPIC and pharmaceuticals maker Dr Reddy's Labs. The company had recently tied up with India's state-owned television network, Doordarshan, for building a portal using BroadVision technology that will offer users outside India access to a huge pool of news and entertainment content. Analysts estimate the market size for internet-migration of large and medium Indian firms at between 1.5-2.5 billion rupees. Satyam, which currently has a 15-20 per cent share of the Indian Web solutions market over the various business segments, hopes to grow its share over time.

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