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Last Updated : Nov 24, 2015 03:42 PM IST | Source: CNBC-TV18

Kellton Tech eyes Rs 600 cr revenue target by end of FY16

Niranjan is very confident that Kellton Tech will manage to be fully paid up by the end of this calendar year.

Kellton Tech Solutions has risen by a staggering 300 percent in the last one year,and reported a growth of about 6.2 percent in the first quarter with revenues totalling Rs 110 crore. This has led to expectations that FY16 total revenue may touch Rs 450 to Rs 500 crore.

In fact,  Niranjan Chintam, founder and chairman of Kellton Tech Solutions, told CNBC-TV18 he is targetting slightly higher  revenue of Rs 600 crore. Kellton plans to achieve this with a 15 to 20 percent growth quarter-on-quarter along with with some small acquisitions which would fetch them around USD 10 million. Kellton is in talks with several parties for a possible acquisition.

Talking about why Kellton wants to dilute its equity base by issuing 30 lakh warrants to promoters, Chintam says that when they make acquisitions they need to take some money to the table.
First Published on Nov 24, 2015 03:42 pm