Praj Industries Ltd has received the approval of the board to venture into software and IT related business. A decision to this effect was announced at the annual general meeting of the company held in Pune. 

Praj chairman Pramod Chaudhari said that the company would focus on the software and IT related business as an independent new entity. This will be a wholly owned subsidiary of Praj and will be located at its headquarters in Pune. Details of the project will be ready by October 2004 and the company will be operational before March 2005, he added. 

Praj had established its engineering software division last year with a view to scale up the IT enabled engineering business. The company has now decided to venture into this business. Praj will offer engineering software, both products and services, in the domains it is currently operating in. 

Chaudhari will be exploring business potential in the US and look at offering these solutions to its existing customers also. "This engineering software business will provide sustainable along different axis. It will help in the scale up of Praj's existing business," he said. 

CyberMedia News
Pune

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