Private equity firm, Zephyr Management has invested Rs 45 crore in Trimax IT Infrastructure and Services through its Indian arm Zephyr Peacock India Funds, for an undisclosed minority stake.
“Over the next six months, we plan to use this investment to strengthen our team by adding 1,000 more personnel, thus taking the total count of employees to 3,000, and to expand operations” said Surya Prakash Madrecha, Chairman and Managing Director, Trimax.
Trimax claimed it grew 61 percent in sales during FY2009-10 and its profits increased 84 percent.
“We expect Trimax to grow faster than 40 percent over the next two years. More importantly, the earnings will grow faster than revenues because margins are getting better. Its EBIDTA is increasing by 50 percent,” said Mukul Gulati, Managing Director, Zephyr.
Madrecha said that Trimax has a strong order book to deliver the expected growth. “We have contracted with Brihanmumbai Electric Supply & Transport Undertaking (BEST) for modernizing their ticketing sytem under a BOT project for 5 years,” he said. “We also have strong order book for building data centers for few state government organizations such as electricity boards, state police, state beverages corporations, and 31 data centers for Life Insurance Corporation of India.”
Source: CRN