NEXT 25 SPs: ASHTECH INFOTECH

Mumbai based
Ashtech Infotech, one of the oldest solution providers garnered
revenues last
fiscal primarily from sales of hardwares and softwares wherein it
closed
books with `42 crore. Interestingly, the company, being present in the
Indian
market for almost 2 decades, still  dominate in the western market
as
it earns 98%
revenue from this part of the country. Unfortunately
Ashtech continued to suffer in terms  of profitability. One of the
drastic moves
the company had to enforce was to close down the distribution
division. It
still bagged a couple of projects in the last fiscal which included
technology consulting and system integration contract for Naman Group
and Naman Mid-town,  worth more than Rs 3 crore. The company also
signed a contract with Market City Malls and Shangri La Hotel, which
is going to add  another Rs 3.5 crore to its basket. Another
project it bagged was Pipavav Shipyard wherein it has to implement a
turnkey IP
surveillance project which is worth more than Rs 65 lakh.