CyberTech Systems and Software Limited today announced results for the quarter and nine months ended December 31, 2007.

Highlights – Consolidated

– Nine Months ended December 31, 2007

· Revenue of Rs. 48.36 cr.

· Other income of Rs. 4.06 cr. is mainly rent from surplus properties

· Offshore Revenue increased by 14% to Rs. 13.05 cr. and contributed 27% of Software Revenue

· Net Profit of Rs. 1.45 cr. after providing for loss on sale of investments of Rs. 1.68 cr.

· Rupee appreciation affected Revenue and Net Profit

– Quarter ended December 31, 2007

· Revenue of Rs. 14.71 cr.

· Other income of Rs. 1.23 cr. is mainly rent from surplus properties

· Offshore Revenue of Rs. 4.38 cr. contributed 30% of Software Revenue

· Net Loss of Rs. 48 lacs after providing for loss on sale of investments of Rs.1.68 cr.

· Rupee appreciation affected Revenue and Net Profit.

Commenting on the performance, Mr. Viswanath Tadimety, Chairman, said, “We are committed to deliver long term growth and are taking several initiatives in the current challenging environment.”

Surplus Properties

CyberTech owns a state of the art offshore development center measuring 65,000 sq. ft.at Thane. The company uses a part of the facility for its business and the surplus has been leased out to reputed corporates. It also owns a property at Andheri which too has been leased out. The company earns annual rent of around Rs. 5 cr. from these properties.

The facility at Thane also has FSI of 2 times the existing built up area which is yet to be utilised. The company would profitably use the FSI considering the current boom in the property market.

Business Outlook

CyberTech provides SAP, GIS, custom business applications and networking solutions. The company has proprietary state-of-the-art advanced technology centers equipped with latest SAP environment to develop end-to-end solutions and tools. It has been working as a part of development and support team with ESRI with strong focus on SAPESRI integration.

The company caters to Commercial Enterprise Sector (60% of revenue) and Public Sector (40% of revenue). Focus on quality of services has ensured continuous customer loyalty as indicated by 90% contracts renewal.

CyberTech plans to grow business through mining existing large customers and winning new customers due to strong relationships with SAP and ESRI. The company has added some new clients in SAP and GIS. The company has been recently selected from a small group of partners to work on a product pioneered jointly by SAP and Microsoft. The company maintains its focus on services around SAP and GIS with emphasis on offshore development. The surplus properties would continue to generate free cash flow which can be productively used in the business. The strong financial status would enable the company to pursue its organic as well as inorganic growth plans.

Sourced From: Equicorp

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