Wednesday, May 28, 2014: IT solutions provider Rolta India has entered into a consortium alongside Bharat Electronics to bid for a defence project worth over Rs 500 billion (Rs 50,000 crore). The project known as Make India has received bids from a shortlist of companies including Rolta. According to reports, Bharat Electronics will be providing the communication equipment and other things, while Rolta will be responsible for the software side of the project.
Rolta has exceeded its projections in the financial year 13-14. The company had reportedly projected 15 per cent last year, which was increased to 25 per cent in the middle of the year. According to K.K. Singh, chairman and managing director of Rolta, the company did even better than that. Singh said this in an interview with CNBC-TV18 some time ago.
Singh also mentioned that he’s expecting a 30-40 per cent of the company’s revenues to come from the defence sector in the next two years. Till now, the company has reportedly been gaining 18-20 per cent of its revenues from this sector. The company expects the pilot for the Make India project to come through in six to eight months. The pilot will be followed by orders, which Singh said should take about a year to a year and a half.
