IQMS Software' 150 seater Hyderabad facility to become operational in September

IQMS Software Ltd has announced that the Company has put the plans in place for making its Infrastructure Out tasking of 150 seater capacity facility at Hyderabad operational by September 05, 2007. For infrastructure out-tasking, the Company is in negotiations with leading Software Companies and has decided to shortlist the highest bidder for the same.

The 150 seater, 3 shifts Oriented Infrastructure Out tasking facility with the state of the art facilities is the first initiative of the Company in strengthening its revenue model and the Company has pipelined two more facilities for infrastructure out tasking in the nearest future.

Infrastructure out tasking in software segment is gaining momentum, with the requirement of plug and operate facilities. Most of the Companies prefer the out tasking model as it will reduce the initial lead period in operationalizing the activities of any Company.

Commenting on the above, the Director of the Company Mr. L V Ramnarayan stated that, it is our endeavor to show a fabulous turnaround for the Company during the current financial year 2007-08. We are glad that our first facility is getting operationalized by September 05, 2007, which is positive for our revenue growth. We are making a good beginning and we continue to repeat the model with the pipelined two more ventures.

The stock was trading at Rs.3.65, up by Rs.0.18 or 4.90%. The stock hit an intraday high of Rs.3.85 and low of Rs.3.85. The total traded quantity was 2633241 compared to 2 week average of 1918421.

Source : Equity Bulls

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