Nelito aims to more than double revenue to Rs 200 cr by 2020

1. + Custom Search + Home About Quality + Careers Contact Home /News /Nelito aims to more than double revenue to Rs 200 cr by 2020 + NEWS + + + Nelito aims to more than double revenue to Rs 200 cr by 2020 Updated On : 11 May 2017 | Source : Times Of India Nelito Systems, in which Japan's DTS Corporation owns a majority stake, is aiming to more than double its revenues to Rs 200 crore by the end of this decade, betting on the country's digital push. Besides, the company, which provides software solutions to co-operative banks, is looking to offer its IT services outside the country too. Punit Jain, CEO of Nelito Systems, said that the Indian government's push for technology products to develop the banking system in the rural areas will augment the company's revenues. In fiscal 2016, Nelito reported an operating profit of Rs 6 crore on revenues of Rs 88 crore. Jain added that the company will leverage on DTS Corporation's network to cater to the US and South East Asian markets. He projected that these markets will contribute 20% to overall revenues by 2020. DTS holds 44.5% stake in Nelito, which started as an IT division of Nelco, a Tata Group company, and became a separate entity in 1995. The Japanese company had acquired the stake from Nelco, Af-Taab Investment (arms of Tata Power) and Sunnynook (a unit of private equity capital firm Intrepid) last month. Tata Power Group reduced its interests in Nelito as it was a small and non-core business for the electricity generator which is currently struggling with its loss- making Mundra plant. Nelco and Af-Taab Investment now holds 9.95% and 12.30% in Nelito while Sunnynook, co-owned by Cyrus Vandrevala, son of former Tata Power MD Firdose Vandrevala, owns 22.25%. Sunnynook had bought Nelito's shares from Itochu, a Japanese company, in the early 2000s. Cyrus' younger brother Jerxis Vandrevala and Kersi Gherda, former Tata Power MD, represent Sunnynook on the board of Nelito while P J Nath and Sanjay Dube represent Nelco and Af-Taab respectively. DTS has three members on the board of Nelito. Back to News Latest News Mr. Punit Jain elected to the NASSCOM Domestic Council 2017-19 Updated On : March 2017

2. Nelito aims to more than double revenue to Rs 200 cr by 2020 Updated On : May 2017 Nelito Systems to expand global footprint, eyes Rs 200 crore by 2020 Updated On : May 2016 Nelito included in Forrester's Global Banking Platform Deals Survey 2017 Updated On : April 2017 SAVE Solutions selects Nelito's FinCraft Micro Finance Solution Updated On : March 2017 CLIENT SPEAK “Nelito has given one stop solution and “The Bank is associated with M/S Nelito “Good & Co-operative.” “We appreciate your local team who “Our Bank is attached with Nelito since 2002. M/S Nelito Systems Ltd has continuously supported & assisted our Systems Ltd since 2002 and migrated to Ronniee Gupta | DGM UCO Bank Computerization of 54 branches within 7 been our CBS vendor since 2009. The team to meet the goal.” CBS on FinCraft months of our order. We are happy with Products, quality of service offered by Solution of Nelito Systems Ltd, in the Nagendra Nath Sinha | Principal Secretary IT Government of Jharkhand, Ranchi them are excellent. They have a very year 2005.The application is functionally good support team and are trained rich, user friendly and easy to navigate. enough for handling any type of We are using other supporting situation.” interfaces of Nelito like anywhere ATM, SMS Banking, RTGS/NEFT, Share D K Kandpal | Vice President (IT) Nainital Bank Accounting etc and it has helped us in smooth automation of Banking operations. The bank is getting more time for Business Development” V P Bhandari | Managing Director Hindu Co-operative bank + + + + + + Banking Solutions MicroFinance Solution Services

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