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  1. Marg ERP expects 50% business growth in Fy19

Marg ERP expects 50% business growth in Fy19

Home-grown business software firm Marg ERP today said it expects to garner revenue of around Rs 110 crore in 2018-19 financial year.

By: | New Delhi | Published: June 14, 2018 9:53 PM
Marg ERP, Marg ERP partners icici bank, SME, artificial intelligence, news on icici bank, latest news on icici bank Under the tie-up, Marg ERP has linked its artificial intelligence (AI) based enterprise resource planning software with ICICI Bank’s current account that will enable reconciliation between payments made from bank account and accounts of the firm. (Website)

Home-grown business software firm Marg ERP today said it expects to garner revenue of around Rs 110 crore in 2018-19 financial year. The company is also planning to raise Rs 100 crore to fund its future growth. “In 2017-18, we posted revenue of around Rs 73 crore. This year we expect Rs 100 crore from domestic market and additional Rs 10 crore from overseas markets,” Marg ERP MD Sudhir Singh said at an event unveiling the company’s partnership with ICICI Bank. Under the tie-up, Marg ERP has linked its artificial intelligence (AI) based enterprise resource planning software with ICICI Bank’s current account that will enable reconciliation between payments made from bank account and accounts of the firm.

“Our focus has been on SMEs. We started AI in our software since the beginning. We have a team of 200 people for research and development to focus on new technology,” Singh said. The company has over 600 people on direct roles and has roped in around 8,000 people through partners.

Singh said the company is also looking at inorganic expansion for growth and plans to raise Rs 100 crore for the same. “We have expanded our business in 18 overseas markets. As of now we are self-funded but to reach enterprises, we need funds for product development and marketing. We are looking to raise Rs 100 crore through equity dilution and are awaiting final valuation of the firm,” Singh said.

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