The company chairman Ravi Pandit says, "We are also beefing up US operations by investing another $500,000 and may consider a development centre here at a later date."

The company has a process control software called Astra, which has been priced between Rs 25,000 and Rs 1 lakh depending on the need for various modules. "This product is a diagnostic software to detect errors in functions of various critical machines in a host of industries," Pandit said. About four to five per cent of the total revenue comes from product division. KPIT has a UK presence since June last year.

KPIT has pinned high hopes on Euroconversion and after businesses. "Our Euro services include identifying a company's Euro strategy and making the software Euro embedded," he said. The company has special expertise for banking and manufacturing sectors, he said.

The company is expecting to post a turnover of Rs 16 crore this year with a profit of nearly Rs 2 crore. "Our target for the next year is Rs 27 crore and a 27 per cent hike in sales," Pandit said. KPIT is likely to have to a good growth in offshore development, he added.

At present, about 18-20 per cent of the company's revenue comes from Y2K operations and about 26 per cent from reengineering and migration business. Euro conversion and Internet security programmes are other key business areas.

The company is a consultant for Oracle solutions in both ERP and data warehousing. It has also specialised in Oracle online analytical processing projects.