FAIRFAX, VA APRIL 27, 2006 – Headstrong, a global consultancy, today announced its first quarter results demonstrating robust growth in revenue and earnings. The revenue in Q1, 2006 grew at over 46% over last year first quarter. The company reported SEC revenue in excess of $113 million for the year 2005 and expects to grow at over 40% during 2006.
According to Arjun Malhotra, Chairman and CEO “This, overall, is an impressive growth for the organization and, compared to our peers, one of the best in the industry. Our services globalization model with domain led consulting practice has been well recognized by our customers to deliver true value to their business over contemporary offshore providers. North America and Asia led by Japan have a very positive outlook and robust pipeline for rest of the year and 2007.”
Says Sandeep Sahai, President North America Operations “Our Global Delivery Centers (GDC), both in India and Philippines, grew very rapidly during 2005, almost doubled headcount and revenue. Our onsite consulting strength in US and other geographies continues to grow too, at a more manageable 30%. This validates our model, as we don’t believe a pure offshore or a pure onsite model will win.
Today, Fortune 2000 customers want strong domain and industry knowledge locally coupled with excellence in delivery from our GDCs.”
“Our global customers find it increasingly comfortable to work with focused providers like us with strong processes and methodology heritage (James Martin + Co.) to provide highest quality niche solutions. With 7 of the top 10 investment banks on Wall Street working with us to provide IT services reaffirms our leadership in Capital Markets to provide specialized solutions,” adds Sandeep Sahai.
TechSpan India, a Headstrong Services LLC subsidiary, has drawn up ambitious plans for both organic & inorganic growth. TechSpan announced an investment of over $20 million in offshore infrastructure development with newer facilities both in NOIDA and Bangalore during 2006. TechSpan is committed to global leadership in select domains through recruiting a high-performance workforce from the best
institutions in India, and invests in robust people development strategies. The current employee strength of over 1000 in the offshore centers continues to grow at a rapid pace. The new center coming up in NOIDA will add 1500 seats to its existing infrastructure.