Cambridge Technology Enterprises has registered a total revenue of Rs. 23.70 crore in the second quarter ended September 30, 2017 as against Rs. 25.3 crore in the corresponding quarter in the previous year. Its net profit, however, is stagnant at Rs. 3.3 crore in the period.
The firm is looking at acquisitions in the areas of Big Data and Data Sciences. “We have completed the consolidation exercise and are now embarking on investments to support our Vision 2020 strategy. The strategy is aimed at achieving a revenue of Rs. 325 crore by 2020,” Aashish Kalra, Chairman of Cambridge Technology Enterprises, has said.
The firm has 350 employees and registered revenue of Rs. 100 crore. “We expect the next 12-18 months to be the investment period and we expect majority of our growth to come after that,” he said.
Cambridge Innovations, an arm of CTE with a mandate to invest in newer technologies like Artificial Intelligence and Machine Learning, has an investment portfolio of about $ 7 million.
“It would take 3-5 years to generate liquidity from these investments. Cambridge Innovations will potentially realise about $ 1 million from exits in the current fiscal,” he said.
The arm went for partial stake sale in Roadzen Inc for $250,000. “Additionally, CI has reached an agreement to exit some of its investments to realise about $7,00,000 in equity value. These are pending necessary approvals,” he said.
“Over the next three years, we expect annual revenue of about $10 million from each of the four areas of Cambridge Bigdata, Cambridge Bizserve, Cambridge DataScieencee and Cambridge Innovations. We are also looking at inorganic growth opportunities in the areas of Big Data and Data Sciences,” Aashish Kalra said.
The company’s shares were trading down 1.29 per cent at Rs. 72.80 on the BSE.
This article is originally published in thehindubusinessline.com