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Nucleus Software revenue and expansion plans

April 11, 2012 | India Infoline
Vishnu R. Dusad, Managing Director, Nucleus Software Exports Ltd completed his Bachelors Degree in Technology from the Indian Institute of Technology (IIT), Delhi and has been associated with the development of the software industry in India since 1983 as an entrepreneur. He was appointed Managing Director of the Company in January 1997. Dusad has enriched Nucleus with his technology background and has a valuable professional experience of more than 25 years in the exciting space of Information Technology Solutions for the BFSI sector. He has a deep commitment to making a difference in the lives of fellow Nucleites, and through Nucleus, to the world around. His experience encompasses areas of software development, creation of strategic alliances, business development, and strategic planning.

Nucleus Software is a leading software powerhouse providing innovative and pioneering software solutions for Banks and Financial organizations globally. Nucleus Software offers a host of competitive IT solutions and consultancy services designed to support the whole spectrum of business offerings across retail banking, corporate banking, cards and cash management. With over 150 customers across the globe, the company is consistently innovating with cutting edge and industry driven products in the domain.

Speaking with Yash Ved of IIFL, Vishnu R. Dusad says: “We are going to focus on deepening our presence in 50 countries, which we are already present in, by adding 2-3 new customers in every country during 2012-13.”

Comment on the new clients added in Q3?
Thanks to the brand equity that our product has in the market, we continue to win in newer geographies in face of toughest competition.
The company has added five new customers and bagged seven new orders for implementing 22 product modules in the third quarter of FY12 from the leading financial institutions across geographies, including Africa, South East Asia and India.
We have witnessed a significant number of opportunities emerging from these regions in the last few quarters and expect a continued business momentum in these markets.
Consolidating for the nine months ending December 31, 2011, Nucleus Software has won 10 new customers and 17 new product orders for implementing 43 modules of FinnOne and Cash Management suite.
This quarter, 18 product modules went live in various markets across the globe. Some of the implementations were completed in record time.
The new clients and orders won in this quarter are largely from Non-Banking Financial Companies and Rural Banks.

Brief us about your financials?
Nucleus Software's consolidated revenue for the quarter ending December 31, 2011, stood at Rs 740mn in comparison to Rs. 686.1mn in the corresponding quarter of the previous year.
Total expenses stood at Rs. 639.5mn in comparison to Rs. 585mn a year ago, while the consolidated EBITDA was at Rs. 100.5mn versus to Rs. 101mn.
Net profit after tax (PAT) stood at Rs. 100.7mn in comparison to Rs. 77.1mn in the same quarter of the previous year.
What is your outlook on the rupee?
We expect the USD-INR to stabilize around 48-50 during the current quarter (January to March). It may strengthen further to 45 levels in the coming months.
What is your outlook for the coming quarters?
We are going to focus on deepening our presence in 50 countries, which we are already present in, by adding 2-3 more customers in every country during 2012-13.
Are you planning to expand into newer regions globally?
We are present in Southeast Asia, Middle-East and Europe. We are now looking forward to expand in North America. At present, North America contributes ~1% to our revenues. We would like to increase it to 5% by the end of next financial year.
What is your revenue mix?
With 25% of revenues, Japan continues to be the largest region for Nucleus Software. South East Asia and India are the next two big regions in terms of contribution to our revenues. In the October to December quarter, India contributed 18% to our revenues.
What kind of hiring are you looking for FY13?
Global strength of employees today stands at 1677. We are looking to hire 200-300 more people in FY13.
What is your current cash level?
Our current cash level stands at Rs 2bn.