Fibcom targets Rs 120 cr revenue

Telecom equipment maker Fibcom India on Friday said it expects a two-fold increase in turnover to Rs 120 crore this fiscal and is negotiating deals with firms like Reliance Communications and Tata Teleservices.

The company is also negotiating with Delhi Metro Rail Corporation (DMRC) to provide infrastructure solutions.

“We are in advance stage of negotiations with DMRC and are expecting about Rs 40-crore deal in next one week,” Fibcom India Director D M Reddy told reporters here.

He said the company is in discussions with Reliance and Tata for providing telecom equipments, but did not provide further details.

Fibcom has recently bagged a Rs 80-crore deal from Reliance.

“We will also invest Rs 40 crore in setting up a new Research and Development centre at Guragon,” he said.

The company already has a facility in Gurgaon with a strength of 40 people and would increase the headcount to 200 in next one year.

Fibcom recorded a turnover of Rs 65 crore last fiscal and is targeting Rs 120 crore in 2007-08, Reddy said.

Fibcom, a joint venture between ITI and the US’s Tellabs, was acquired by Suri Group in April last year.