Ricoh India to invest Rs 500 cr

Ricoh India to invest Rs 500 cr

Ricoh India to invest Rs 500 cr

 Ricoh India, a subsidiary of Japanese imaging, electronics and IT services major Ricoh with global revenues of $18.7 billion, assured an investment of Rs 500 crore during this fiscal for market expansion along with its strategy to ramp up data centres and to open a tech centre.

In an interaction with Deccan Herald, Ricoh India Managing Director and Chief Executive Officer Manoj Kumar said the company is witnessing exponential growth with growing demand from corporate and government projects. “We have already streamlined an investment plan of Rs 500 crore. Here we will take the investment amount to start a separate tech centre which hosts an experience zone (just started operations) and a B-to-C outlet to address growing demand from customers. “We find Bengaluru as an ideal location to start the tech centre,” he said. Ricoh has already acquired Noida-based company Momentum Infocare, which accelerated its IT services operations.

Ricoh has installed data centres at Kolkata and Noida with an investment of Rs 25 crore. “We have already optimised the capacity of these two data centres and there is need for additional investment taking into account the volume of business we are expecting from the government and other customers,” said Kumar.

The company’s India revenue grew from Rs 300 crore to Rs 1,047 in FY 2014 in just three years with 50 per cent plus CAGR. “We are expecting a fourfold increase for the coming three years, which means we will have to cross Rs 4,000 crore by March 31, 2017. Here we are expected to make an annual growth rate of 55-60 per cent. I think our IT business will help us to register that much growth,” he said.

On the strategy front of the company, he said  Ricoh India will focus on the five industrial verticals of education, healthcare, BFSI, manufacturing, and strategic business for the next three years.

Ricoh India claims a market leadership in multifunction printers with 28 per cent market share in black and white category, and 40 per cent in colour category.

The company came to limelight after winning a Rs 1,370-crore contract from the Department of Posts for the supply of hardware solutions under the latter’s modernisation initiatives. “We have already won 20 to 30 projects from the government. These are on different stages of development. We do hope to get into more business opportunities in the digital India campaign and smart city projects,” he said.