MindTree Limited

MindTree Limited operates as an international information technology (IT) consulting and implementation company. It operates in two segments, R&D Services and IT Services. The R&D Services segment offers product realization services in the areas of hardware design, embedded software, middleware, and testing, as well as through its Internet protocol building blocks in the areas of Bluetooth, VOIP, IVP6, iSCSI, and others for the datacom, telecom, wireless, storage, industrial automation, avionics, consumer products, and computing markets.

MID-TIER software services firm Mindtree plans to address the lucrative healthcare market for technology solutions with its newly developed telemedicine boxes, as the company seeks to sustain its growth at a time when the market for software services is seeing lower demand. MindTree has already designed a prototype of the telemedicine box, and is currently in talks with several equipment manufacturers including Sanmina-SCI and Flextronics for launching them in the market this year.

“Indian government has plans to invest Rs 4,500 crore under national rural health plan, where it will build 60,000 kiosks. We are planning to tap this opportunity and develop some 20,000 telemedicine boxes”, said Sridhar Perepa

MindTree plans to provide the technology to hospitals in India including Apollo who are seeking to offer tele-medicine services.

MindTree was named among the Top 30 offshore service providers by the nternational Association of Outsourcing Professionals and Fortune Magazine. MindTree has been selected as one of the Top 25 companies for good Corporate Governance practices.

Financials :

MindTree Limited reported earnings results for the fourth quarter and full year ended March, 2009. The company reported a 115.6% increase in sequential net profit for the March quarter aided by strong profitability in Aztecsoft, while its revenues declined 7.1% over the December quarter, largely due to drop in volume, currency movement and pricing pressure. During the fourth quarter, the company reported a net profit of INR 188.0 million on revenue of INR 3.38 billion compared to net profit of INR 87.2 million on revenue of INR 3.63 billion for the same period a year ago. For the full year, the company reported that net profit fell to INR 523.1 million from INR 1.03 billion in the year-ago quarter.

One can reach MindTree

Mine Interest:

MindTree is giving high competitions to the Indian giants. MindTree entering into many sectors is also becoming a competitors for many companies. As they keen on providing quality services, and don't want to loose government opportunities too. Also as the chances for the IT industry in India too grow, such type of companies will make big profit, as they are adopting the same paradigm that is adopted by the Indian Banking Industry to not restrict themselves into limited spectrum.