Hyderabad, July 8 (IANS): Jade Global Software, which opened a new facility here on Friday, has set a target of $100 million revenue by March 2021.

The US-based advisory, integration, testing, cloud & consulting services, business solutions and IT outsourcing company has chalked out aggressive growth plans. Its current revenue stands at $30 million.

Telangana's IT Minister K.T. Rama Rao inaugurated Jade Software's mid-enterprise IT services facility.

"We welcome Jade Global Software to our state. What delights us is announcements continue to flow as firms find value in doing business in Telangana state which is investor and business friendly," he said.

Jade Global has been ranked in the Inc.5000 list as the fastest growing private companies in the US for five consecutive years.

Karan Yaramada, CEO, Jade Global Soft, said this new 11,000 square foot facility will help the company ramp up its focus in the areas of Analytics & Information Management (AIM), Enterprise Resource Planning (ERP), Managed Services (MS) and Technology & Engineering Services (TES).

"We are starting our Hyderabad centre with a capacity of 100 employees now. In the next five years our goal is to increase this number to five fold," Karan said.

"We're essentially investing heavily towards enhancing our existing offerings and adding new facilities that will help ramp up our IT Services to our growing list of mid-size enterprises worldwide," he added.

He believes that with more than 1,300 IT and ITES firms, Hyderabad has the right combination of infrastructure and human resources to aid to the growth of the company.

"Though services, solutions, and product development are the primary focus for Jade Global, innovation has been our driving force. We find Hyderabad a perfect place to encourage entrepreneur mindset and foster innovation," he said.

Currently, the company generates about 40 per cent of total revenue from its India operations and plans to increase the same to 60 per cent in the next two years.

"Recently Jade Global established its footprint in Europe with a new office in Britain. We are adding people every day across three continents to augment our growth and expand our 600-member global IT Innovation team," Karan added.

Jade recently closed a deal with large German based automobile company in India to automate their business processes.