On the international front i-flex is entering the Latin American market through joint ventures in Argentina and Brazil. The JVs are basically to overcome the language barrier and increase the comfort level of prospective customers in the non-English market, Mr Ghaisas said. For this market the Spanish version of i-flex's flagship product, Flexcube, is getting ready.In India i-flex has had a soft launch of timesofmoney. This is second venture of i-flex in the financial e-market place following dotexplaza, a virtual plaza for the investment community. The Timesofmoney.com for the first time offers mutual fund customers to aggregate their investments across various mutual funds and come to a net asset value every month. Apart from the aggregator, timesofmoney.com would also carry out auction of commercial paper, Mr Ghaisas said.

The JV with the HDFC group, Flexcel Investment (P) Ltd to offer i-flex's flagship product, Flexcube, as a ASP model will roll out revenues in the second quarter of 2001. The South-based Nedungadi Bank has signed up for this model and the company will be targeting cooperative banks in Maharashtra, Mr Ghaisas said. Mr Nandu Kulkarni, head of Pune operations said the Pune facility will the third development centre for i-flex after Mumbai and Bangalore. This centre will contribute around 20 to 23 per cent of i-flex's annual revenues when fully operational. Last year i-flex had revenues of Rs 206 crore and profits of Rs 70 crore. The company is growing at 70 per cent compound annual growth rate. The centre will be spread across 23,000 sq ft with a staff of 300 professionals by end of 2001.