MindTree Consulting, an international IT and R&D Services Company, today announced that it has become the fastest Indian IT Company to cross the $100 million mark in revenue. Announcing its financial performance for the fiscal year 2005-06, the company said that it achieved revenue of $100 million, crossing the important milestone in just six years. Historically, Indian software services companies have taken two or three times as long to reach the $100 million mark. MindTree's $100 million revenue represents about 80% growth over the previous year.

"The IT Services business of MindTree experienced solid growth during the year. We acquired several new customers across the globe. Significant among them were Imperial Tobacco Group, Essilor and Burger King. Our differentiated horizontal offerings have helped us maintain the momentum. Practices such as data warehousing and testing have grown in excess of 100%. Even as we grew in each of the geographies we are present in, we opened our offices in newer geographies of continental Europe and Australia," said MindTree Consulting President & Chief Executive Officer, IT Services, Krishnakumar Natarajan.

"Reaching the $100-million mark is a special moment for MindTree. And, achieving this in the shortest time reflects MindTree's ability to grow nimbly on a higher base. This gives us the confidence to aim for our next target - $231 million by 2007-08. We strongly believe that the high levels of customer satisfaction that we have repeatedly been able to achieve through better quality of our processes and talent will help us realize our dream," said MindTree Consulting Chairman & Managing Director Ashok Soota.

Prashanth Rai