MindTree Consulting Ltd. IPO (MindTree Consulting IPO) Detail

MindTree Consulting is an international IT company that delivers business and technology solutions through global software development. Co-headquartered in Somerset, New Jersey and Bangalore, India, the company's seasoned management team and employees skilled in technology, business analysis and project management approach technology initiatives in a business context.

Organization Structure:
MindTree has two business lines – Information Technology Services ("IT Services") and Research and Development Services ("R&D Services"):
IT Services comprise IT strategic consulting, application development, data warehousing and business intelligence, application maintenance, package implementation and application product engineering services;
R&D Services are organised into two divisions – Engineering, which provides product realisation services to technology and product firms including product architecture and product design, product re-engineering and product assurance; and Research, which conceives and develops intellectual property primarily in the short range wireless communication segment and licenses and customises such intellectual property.

Clients:
MindTree's top customers included three Fortune 10 companies and six additional Fortune 100 companies, such as American International Group and United Technologies Corporation.

Financial brief:
MindTree has achieved substantial growth in revenues in recent years. MindTree's revenues grew at a compound annual growth rate of 46.9% from Rs. 656.0 million in Fiscal 2001 to Rs. 4,488.0 million (approximately US$101.6 million) in Fiscal 2006.
MindTree's net profit grew at a compound annual growth rate of 360.2% from Rs. 25.6 million in Fiscal 2004 to Rs. 542.1 million (approximately US$ 12.3 million) in Fiscal 2006.
MindTree's people strength increased from 442 as of March 31, 2001 to 3,128 as of March 31, 2006.