I went through their site and they do offer projects in latest technologies like promt engineering(AI), blockchain(though it hasn’t lived up to the hype yet), etc. But sadly in the services industry the trend catches up really quickly. And suddenly you will find most companies offering these. The main differentiater for such kinds of companies is the ability to provide services for lesser hourly rates and have good customer network to make sure that all employees are occupied. And that’s why most of these companies have offices in India as salaries for developers are low there. Recent trend is also to have offices in Eastern Europe region (Poland, Romania) as salaries are lesser compared to say UK or Germany and moreover they work in the same time zone.
The management mentioned that they want to acquire a company in UK with the IPO funds. I think that is definitely a step in the right direction. This will help them get customers in the EU market. But one thing to remember is that unlike product companies they don’t have any operating leverage. In product companies increasing the users of the product rapidly increases the PAT But for them only realistic way for them to increase the revenue and PAT is to hire more people and get them billed most of the time.
This was totally based on my experience in working in a very similar company here in Germany for the last 6 years.
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