Xevyte eyes USD 100 mn revenue, plans over 8-fold headcount growth to 5,000 in 5 yrs

New Delhi, Jun 23 (PTI) IT company Xevyte expects to more than double its revenue to USD 100 million by 2030 and increase headcount by about eightfold to 5,000 in the next five years, a senior official of the company said.

Xevyte’s Chief Strategy Officer Shailendra Puri told PTI the company expects the majority of its growth to come from Global Capability Centres (GCCs) and rest from Banking, Financial Services and Insurance (BFSI) segment.

"We are a little over USD 20 million. If everything goes as per plan and we execute on time, we are expecting to touch a little over USD 50 million by March 2026. And we are definitely targeting to hit USD 100 million by 2030," he said.

Bengaluru-based firm Xevyte, formerly known as SquareTek, specialises in digital engineering, cybersecurity, infrastructure, and talent strategy, and claims to serve over 100 clients across India, the USA, and the UK.

"We are looking at substantial growth in headcount, with these services and solutions expanding rapidly over the next five years. From a headcount point of view, we are definitely targeting at least 5,000 people in the next five years. By this year's end, we should be crossing 1,000 people. Eventually, we look at adding at least 800 to 1,000 people year-on-year," Puri said.

The company at present claims to have around 630 employees.

Puri said that Xevyte is looking at GCCs contributing at least 60-70 per cent of the business and the remaining 30-40 per cent of the business will also come from targeting local BFSI.

"Local BFSI will also be a major growth driver in terms of headcount and revenue, and also technological innovation in these areas-especially on the data and cybersecurity side. Most of the hiring or headcount growth will be from the southern region-that is, Bangalore, Hyderabad, Chennai-and the fourth will be Mumbai as well, in terms of the western part," Puri said.

He said the company is looking at considerable increase overseas as it already has a presence in the UK and the US.

"The US, UK, Southeast Asia-specifically the Philippines-and the UAE are the target geographical segments that will drive our business in terms of headcount, technology innovation, and revenue," Puri said.

Within India, Xevyte has presence in four cities-Bengaluru, Hyderabad, Chennai, and Pune.

"We are planning to start in Mumbai soon, and we’re also looking at Tier-2 cities like Coimbatore. In terms of infrastructure, overseas offices are ready. Financial support is there as well. It is now a matter of aligning the right team and executing the right projects," Puri said. PTI PRS DR