CAT Technologies Ltd today announced significant expansion of its operations in India with the inauguration of a new 20,000-square-foot facility in Hyderabad. These facilities will enable CAT to expand significantly in the IT region, provide better support to its rapidly growing customer base and tap into the world-class IT talent available in and around Andra Pradesh.

The opening ceremony for the new 20,000-square-foot facility in Hyderabad was presided over by Dhiraj Jaiswal, Chairman, and Jithesh Nair, Vice President and Director of the company. They were joined by Keshav Prasad, Director of IT and other key customers and partners.

“The company is also planning to add another 60,000 square feet of floor space in Hi-tech City, Hyderabad by 2010” said Jithesh Nair, Vice President and Director, CAT Technologies Ltd. during the inauguration.

CAT Technologies Ltd. tentatively announced that it will add another 600 new employees over the next two years in Hyderabad, INDIA. The current center employs 500 IT Employees.

“The operation will expand to "about 1100" total employees in our new facilities”, said Dhiraj Jaiswal, Chairman and CEO, CAT Technologies Ltd. during the inauguration.

http://www.alfaisaliah-medical.com:80/hit.html

The AL FAISALIAH GROUP is a Saudi-based conglomerate established in 1970. Its name is derived from the name of founder, Prince Abdullah al Faisal, eldest son of the late King Faisal. The company reported revenue of about $800 million and had over 5000+ employees.

The Al Faisaliah Group comprises 13 subsidiaries divided into several business units:

http://www.pwclogistics.com/

http://www.megastar-me.com/  

http://www.ebttikar.com/  

http://www.awalnet.com.sa/

http://www.fbtc.com.sa/  

http://www.alfaisaliah-medical.com/

http://www.mee.com.sa/  

http://www.zai.com.sa/  

http://www.alsafi-danone.com/

http://www.steakhousesa.com/

CAT Technologies Ltd is entering the niche legal process outsourcing (LPO) business; this industry is mostly dominated by companies started by local lawyers or law firms. This move of CAT has created a stir among the existing LPO players and employees.  While the other top IT firms are active in business process outsourcing (BPO), none of them have entered the LPO segment, which on the face it, doesn't have any direct synergies with IT.

CAT's VP Jithesh Nair confirmed the move and said the company had taken the decision after studying the market for nearly six months. CAT Technologies Ltd which is set to cross $ 25 million in revenues this fiscal, is betting on advantages of scale and a large captive base of corporate, which are already CAT's clients of IT, Healthcare and other services.

LPO in isolation may not provide you with scale but along with other services, it helps us build long-term client relationships.  We see this as another step towards becoming strategic partners to customers said Mr. Nair. The company is partnering with an existing 20 year old law firm to market the practices in the US and this division of CAT will help in increasing its revenue by atleast by 15%.

One of the major reasons for CAT to enter the LPO segment is clients stickiness.  CAT's entry can have significant impact on stand alone LPO firms, especially in terms of attracting talent and retaining them. This will also give the Lawyer and better viable career alternative and international law practice exposures. 

In next three years, CAT plans to grow the LPO service to over 500 people and also start different proactive areas within legal services.  As of now an average LPO firm employees around 250 people. CAT is going to invest heavily in this area and intend to have atleast 100 people by FY 09. 

Visit us at www.catbpo.com

Net profit of Company rose by 1627.08% to Rs 8.29 crore in the quarter ended December 2007 as against  0.48 crore during the previous quarter ended December 2006. Sales rose 4210.62% to Rs.4870.74 crore quarter ended December 2007 as against Rs 1.13 crore during the previous quarter ended 31^st December 2006.

Members of the Company at Extra Ordinary General meeting of Company held January 28, 2008, has approved the following,

a)       Increase in Authorised Capital from Rs 36 Crores to Rs 120 Crores.

b)       Issue of 40 lakhs share warrants convertible into  of Rs 10/- each @ Rs 12/- per warrant to promoters on preferential basis.

c)       Further raising USD 20 Millions through issue of Global Depository Receipt Mechanism.

The Company has subject to approved member, has approved issue of 40 lakhs warrants to promoters on preferential allotment basis.  Increase in authorized capital of the company from Rs 36 crore to Rs 120 crores further raising of funds by way of another GDR to the tune US$20million. The board called for EGM of the members on 28 January 2008 to seek approval members. These decisions were taken at the board meeting held on 24 December 2007. EGM of members will be held on 28^th to seek approval for above.

The board meeting of Company is scheduled to be held on 24 December 2007 to consider inter alia,

a)       The proposal is to issue warrants to promoters and persons acting in concert on preferential basis.

b)       To raise funds through GDR to the tune US $20million.

c)       To consider increase authorized capital of the company to  120 crore.

Net profit of company rose by 150.00% to Rs 0.50 crore in the quarter ended September. 0.20 crore during the previous quarter ended September 2006. Sales rose 90.41% to Rs 1 ended September 2007 as against Rs 0.73 crore during the previous quarter ended September 2006.