DBT Bureau
Pune, 30 Dec 2024
Vinsys IT Services India Ltd., an IT and software services and training company headquartered in Pune, reported the opening of its second office in Saudi Arabia in the city of Dammam. The company now has six offices in the Middle East, comprising four countries, and 25% of its revenues come from the region.
The focus on Saudi Arabia and the Middle East market has been accentuated by the growing focus of governments and corporations on upskilling the workforce in an AI-driven world. Vinsys IT has recently partnered with a sizeable Saudi-based investment company as its Digital, IT and AI partner and introduced multiple proof of concepts encompassing the AI and Automation Framework. The company expects to gain a greater foothold in a rapidly growing market.
Commenting on the company’s Saudi push, Vikrant Patil, CEO and MD Vinsys, said, “Saudi Arabia recently announced Project Transcendence – a $100 billion initiative aimed at establishing itself as a major player in artificial intelligence, data analytics, and advanced technology. The vision has opened doors to unprecedented opportunities for companies with presence, credibility and capability, such as us, in the talent upskilling and training space. We at Vinsys have built a robust foundation in the past decade across the region – in terms of our state-of-the-art infrastructure, long-standing clientele, respected empanelments, and celebrated trainers. We are well-placed to capitalize upon the dynamic landscape going ahead.”
Vinsys is already in the process of opening a new office in Oman – further cementing its presence in the Middle East region.
The company also announced its H1FY25 results in November. During H1FY25, its consolidated revenue increased by 16.3% to Rs 92.11 crore, up from Rs 79.23 crore in H1FY24. The company’s EBITDA surged by 55.1% to Rs 15.56 crore in H1FY25, compared with Rs 10.03 crore in H1FY24.
