Widening mkt in Middle-east, India, Asia Pacific: Thinksoft

In an interview to CNBC-TV18, Vanaja Arvind, Executive Director of Thinksoft Global Services says the company is now widening its business, which has a major market in Europe, to Middle East, India, Asia Pacific, mainly Singapore and Hong Kong as well as Australia. "We have added 12 new clients in the new geography which will help us accelerate business," she said.

Arvind says that although the business in Europe is doing well, the company faces a challenge in adding new business. "The Europe revenue which was almost about 56% earlier has come down to 47% this year," she further added. Below is an edited transcript of Vanaja Arvind's interview to CNBC-TV18. Also watch the accompanying video. Q: Could you tell us how Europe is doing for you What is the company doing with respect to growth over there and any plans to diversify? A: In Europe our existing business is doing well. There is a challenge in adding new business though there is more inclination towards outsourcing but as part of strategy last year anticipating Europe remaining flat we widened our geographical reach, so we added new region for that. Hence, our risk is coming down and the Europe revenue which was almost about 56% earlier is come down to 47% this year. Q: What sort of geographical diversification have you then undertaken in order to reduce your exposure to Europe? A: Both Europe and US were the focus area earlier but now we have thought of widening our geography to middle east, India, Asia Pacific mainly Singapore, Hong Kong as well as Australia. We have opened a branch in Cyprus to care of near shore center for the European region, to bring the cost down. Q: Give us a sense of what sort of contribution we could see in percentage terms possibly in FY13 for the company? A: We don