Coin Press - Vserv targets ₹1,000 crore revenue by 2030 through AI expansion

Vserv Infosystems aims to increase revenue to about ₹1,000 crore by 2030, with artificial intelligence and international expansion central to its plans, chief operating officer Raman Shukla said on September 14.

The Noida-based IT company recorded group turnover of around ₹150 crore in the previous financial year. Speaking at an event marking 10 years of operations, Shukla identified the company’s Bharat Service Desk offering as part of its move into AI.

He said industry relationships and overseas business were supporting growth. Vserv has clients in 23 Indian states and four other countries, and expects to start Singapore operations within two months.

The business employs 2,000 people and plans to expand its workforce four- to fivefold over the next five years, Shukla said.

Uttar Pradesh IT Minister Sunil Sharma, who attended the event, said Vserv had developed from a small entrepreneurial venture into a company operating across India and abroad.

Sharma said Uttar Pradesh had 120 start-ups in 2017 and now had 24,000 registered start-ups. He said a new chief executive had been appointed to the state’s start-up mission and an independent AI Mission would be launched soon.

The minister contrasted the previous Akhilesh Yadav-led government’s last budget of ₹3.36 lakh crore with the present government’s ₹9.72 lakh crore budget. He said the current administration had neither introduced new taxes nor raised existing ones, and attributed economic improvement to measures promoting local products, semiconductors and start-ups.

X.Wong--CPN