MUMBAI, July 3: Ampersand Software Applications Ltd has chalked out a three-pronged strategy to achieve higher growth in the next five years. The company has also targeted a sales turnover of Rs 86 crore by the year 2001.

Talking about the company's future plans, director R Dhirendra said services and maintainence, projects-both local and offshore, and software solutions and other products will be the core areas for Ampersand. He explained that among these, the services and maintenance part will contribute 60-70 per cent of the income.

As part of its export drive, the company is exploring opportunities in countries like Sri Lanka, Nepal, Maldives and Latin America.

Ampersand already provides business solutions on platforms like Microsoft Windows, Windows 95 and NT and IBM AS/400 in US and European countries. ``We are planning to set up offices in UK and Middle East to serve the regions,'' Dhirendra added.

Ampersand Software created history last month when it merged with Baysoft Ltd, a first of its kind in the software industry's history.

Commenting on the merger, Dhirendra said,``It was a strategic one as both companies were offering similar financial accounting packages and competing for the same market share. When we realised ground realities, we thought it better to work as one entity.''

Ampersand wants to create a niche market for itself through efficient and low priced products, Dhirendra said.

Amon Financials, Ampersand's accounting package has been well received. ``We want to be known as a company making products with a difference,'' he said.

According to Dhirendra, Ampersand expects the product sales to contribute at least 40 per cent of the total revenue.

The company's other products, WolfTC, software solution for healthcare, and Media, an entertainment package have also been accepted in North America. Talking on the constrains for companies like Ampersand, he said the financial institutions are not willing to fund the product development projects.

``We have to come out with different products combining both efficiency and low price to capture a sizeable market share, Dhirendra said. Our very survival depends on the product , he added.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.