Maveric Systems aims to double revenue in four years

Banking technology solutions provider Maveric Systems is aiming to double its revenues to ₹650 crore over the next four years, banking on a rising IT spend by global banks.

The Chennai-headquartered company had posted revenue of ₹337 crore in 2018-19, with a 16 per cent EBITDA.

“Our quality assurance and engineering services had a base revenue of over ₹290 crore in FY19 and is expected to post a 20 per cent growth trajectory for the next three years,” said Ranga Reddy, Chief Executive Officer at Maveric Systems.

He added, “Data transformation, digital technologies, T24 (core banking solution) and telecom, which constitute 20 per cent of the overall FY20 revenues, are poised to grow over 40 per cent in the next three years.”