To this end, he said his company was working out the details and by the end of the current fiscal, the ESOP proposals would be placed before shareholders for approval. "All technology firms under the Tata umbrella are likely to offer ESOPs simultaneously starting from the next fiscal," Devarajan said.

He said Tata Elxsi Ltd was looking at various expansion possibilities including organic growth in India and overseas. The company provides services in the areas of visual computing, networking, communications, Internet solutions, systems software and embedded systems.

Briefing the media at the company's new facility in Whitefield (Bangalore) on Tuesday, he said the company would be looking at acquisitions of firms that would boost its growth. "We are toying with the idea and the necessary homework is still being done," Devarajan said.

He said the company was in the process of refocusing itself as a product development firm from being purely a service provider.

Currently, the company has four offshore centres in Bangalore with three more to be added within a year. It has four offices in the US and one in Japan with more overseas offices in the offing, he said.