In its first ever investor conference, BFL Software president and chief executive officer BV Venkatesh said the company was also working towards obtaining the SEI level 4 certification under the CMM Model.

Outlining the company's plans, BFL Software associate vice-president R Mohan said it was targeting a turnover of Rs 225 crore by 2000-2001, of which Rs 65 crore will come from on-site services. The company has planned to increase its turnover from Rs 52 crore during 1997-98 to Rs 100 crore by the end of the current fiscal. This is slated to rise to Rs 150 crore by 1999-2000.

At present, the company's top five customerscontribute 80 per cent of the revenues and it derives an estimated 85 per cent of its business from the US. "The large dependence on one market and few customers is our weakness. We were getting substantial business from Korea and Malaysia. But due to the south-east Asian crisis the share from the region has come down," Mohan said.

BFL Software, which has software development facilities located only in Bangalore, is looking at other places in the country and abroad to expand its operations. In addition, the company has also announced its intentions to reduce its dependence on income from services by venturing into products.

In fact, the company has projected that its products business will contribute an estimated Rs 4 crore to its turnover by 2000-01. The advanced centre of excellence, which the company is setting up in the US, will help it move up the value chain in terms of services with a higher value addition. The company estimates that this centre will contribute Rs 10 crore to its turnover by1999-2000, which will go up to Rs 30 crore by 2000-01.