Calcutta, March 26: Webel Technology is set to record a turnover of around Rs 170 crore in the financial year ending March 2017, the highest in the last five years.
"We have been working very hard to cross the Rs 170-crore mark and we will be growing more than 18 per cent over last year," said a company official. Webel Tech is also eyeing a profit of over Rs 5 crore.
In 2015-16, the IT firm operating under the Bengal government, clocked a revenue of Rs 143.47 crore and its profit stood at Rs 4.85 crore.
The company was incorporated in 2001 as a 100 per cent subsidiary of West Bengal Electronics Industry Development Corporation Limited (WBEIDC or Webel) to operate as the IT services arm of Webel and undertake all procurement and project management services.
In 2004, the company was designated as the nodal agency to provide IT procurement support to the state government.
However, in 2007, it was replaced by parent Webel as the nodal agency, which resulted in an initial drop in revenues.
The company still managed to secure nearly 200 projects from the state government departments of Odisha and UP as well as departments under the Centre such as Eastern Railways and Coal India.
Webel Tech focuses on the supply of IT hardware, development of software applications and data digitisation among others. It is also in the process of developing an IT-based tool to monitor procurement-related activities intended to replace the existing manual procedure.
Last month, the state government announced the merger of the six subsidiaries under Webel into a single entity as most of them were loss-making firms.
Webel Tech has been left out of this merger as it may soon become the nodal agency of the state's recently formed e-governance personal and administrative reforms department.
At present, the company has a staff strength of nearly 80 of which some have been deputed to Webel and the department of IT and electronics.
This includes Webel Communication Industries Limited (Webcom), Webel Consumer Electronics Ltd, Webel Informatics Limited, Webel Mediatronics Limited, Webel Electronics Communications Limited and Webel Venture Capital Limited.
