The profit after tax (PAT) for the quarter stood at Rs 1.65 crore, against Rs 0.39 crore, representing a 320 per cent increase in net profits for the quarter.

Addressing the company's annual general meeting AGM in Bangalore on Thursday, Tata Sons Ltd director Syamal Gupta said that all the Tata group IT companies would focus extensively on global co-operation while working on overseas projects.

"This is in line with our strategy to leverage the skill sets of each of the Tata IT companies/divisions including working closely and jointly bidding for projects together," Gupta said.

The Esop schemes for all the Tata group companies are also being actively looked into and specific plans are likely to be finalised shortly.

Tata Elxsi has also just commenced its Europe operations with an office at London and will focus on globalisation of its services both with the other group companies and on its own.

Addressing the media, Tata Elxsi managing director S Devarajan said the company had added close to six new customers this year and was looking at overseas revenues contributing to 30 per cent of its overall turnover compared to 25 per cent last year.

"We are aiming for a 50:50 mix of revenues from overseas and domestic operations within the next 18 months," Devarajan said. The company is also rapidly ramping up its employee base and currently has 730 employees compared to 650 last year.

"We are looking at recruiting close to 200 more employees as part of our aggressive growth plans," Deverajan said.