Custom Application Development Company for Sale in Kochi, India

- Company incorporated 8 years back in Kochi and a fully owned subsidiary registered in London, ready to commence operations.

- Has a diverse client portfolio with 50+ clients across the globe, including a majority of Indian clients, as well as clients from the US, Canada, Qatar, and Oman. The clientele spans across various industries such as healthcare, finance, fintech, media, retail, and banking.

- The company undertakes an average of 10-15 projects annually, with project durations ranging from 5 months to several years.

- The business operates on two main models: fixed scope and resource augmentation, with the former project value at INR 15 to 25 lakhs and the latter based on the skills and experiences of resources placed.

- Each promoter of the company brings in a wealth of experience, with 12+ years in the industry and strong support from accelerators like Spark10 Accelerator Program, KSUM, and DPIIT.

- The company has recently made a strategic pivot in its business model and anticipates a 15-20% EBITDA in the next 12-14 months. Additionally, there are plans in place to establish a subsidiary company in the US to expand operations.

- The business experienced a decline in revenue this year compared to the previous year, due to contract and market drops.

Top services are:

Cloud & mobile application development.

MVP Development for startups.

IT staff contracting & offshoring.

Clients are from healthcare, finance, fintech, media, retail, and banking industries.

Tangible assets: Modern office furnishings, laptops and test devices.

Intangible Assets: Multiple software products in several industries, some built inhouse and some with purchased licenses which can be used for future growth and launch new products.

Rented facility of 4,000 square feet of fully furnished space in the city's heart.

Location is Palarivattom, Kochi.

Authorized capital of INR 1 crore.

Paid up capital of INR 50 lakhs.

3 promoter directors hold 98%

Investors from Spark10 Accelerator holds 2%.

From the promoter shares 5% will be kept aside for the ESOP pool.

INR 50 Lakhs kept in FD as reserves.

Around INR 75 Lakhs in receivables.

An OD facility is availed to fund the receivables.

Cycle.

50L term loan taken in 2023 out of which INR 46 L is outstanding.

2 vehicle loans in the company. (Exempt from the deal-will close the loan)