Pyxis targets $18 to $20 mn turnover in 3 years

Risk management solutions provider for derivative market, Pyxis Systems, is targeting a turnover of $18 to $20 million in the next three years.

The target set by Pyxis is on the back of growth in derivative markets across the world.

"Currently we have two orders, one from an Indian private sector bank and the other from the US. We expect this to double by the end of this year," Pyxis Systems Founder and CEO Nandlal Bhatkar said.

We would also increase our headcount to 120 from the existing 45 by December 2006 and expect to reach topline to $18 to $20 million in the next three years with 80 per cent of our revenues coming from global clients, he said.

The Pune-based company, incorporated in 2004, is expecting investment to the tune of $2 million from Indian venture capital soon.

"We are talking to a few venture capitalists to raise $2 million for our expansion and product development," he said.

The company deals in the derivative market space by providing risk management solutions and integrated services for trading with flexibility. It also deals with consultancy and IT services for the market.

"Pyxis has recently developed its product 'RisKompass' for derivatives deal valuation and risk management and is in the process of developing its own analytical library," he said.

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