IT firm Ricoh India eyes 55% growth in 2015-16

Printing and IT solutions firm Ricoh India, a subsidiary of Ricoh Group, Japan, is eyeing 55% growth in revenues this fiscal, a top official has said. The company has also planned investments of about Rs 300 crore over the next one or two years for expanding its data centres.

"We have been growing at an annual average growth rate of 55-60% over the last five years. We will continue that growth this (financial) year too..." Ricoh India Managing Director and CEO Manoj Kumar told reporters.

He was here to formally announce the partnership with Siemens PLM (Product Lifecycle Management) software aimed at serving clients in manufacturing industry. Kumar said the company registered revenue of Rs 1,637 crore during the financial year 2014-15.

As part of expanding the data centres, he said the company has proposed Rs 300 crore investment to set up such a centre in Gandhi Nagar, Gujarat, besides expanding the existing centre in Kolkata. Currently, Ricoh India has two data centres - one each in New Delhi and Kolkata.

To a query, he said, the company would meet the Rs 300 crore proposed investments through a mix of internal accruals, debt and support from parent company Ricoh Group.

Noting that Tamil Nadu was playing a "significant" role in the company's growth, Kumar said: "We are upbeat about the growth and will be aiming for Rs 200 crore business from the state this financial year".