KPIT is developing embedded application for Mobile Point of Sale (MPOS) devices. This would enable swiping of credit cards, verification and making payment through a mobile device being developed by the client company.Mr Pervez Daver, senior manager, corporate marketing, said the company wanted to build competence in this area and make it among its top three businesses. The company is also doing WAP-enabled services for portals in the hospitality industry in Germany.

This is part of KPIT's strategy to enter newer areas of technology related to e-business and to broaden customer base. Over-dependence on a few customers had led to KPIT making losses during 1999-2000. The company had posted a loss of Rs 30 lakh on a revenue of Rs 32 crore. Now the effort at KPIT is to ensure that no customer held more than 15 per cent of the share of gross revenues.

The company has recovered ground during the current financial year with the first quarter (ended September 2000) revenues of the company registering a 82 per cent rise to Rs 11.43 crore. Q1 profits are Rs 1.03 crore. KPIT's subsidiaries in the US and the UK too have turned profitable.

...seeks listing on BSE?

KPIT Systems Limited has applied for listing the company on the Bombay Stock Exchange (BSE). The company is at present listed on Ahmedabad, Pune and Hyderabad stock exchanges and the National Stock Exchange of India. Company secretary Bhushan Gokhale said listing on the BSE is to improve the liquidity of the KPIT stock.