Tulip IT Services

Tulip IT Services was set up in the year 1992 as a data telecom service provider. It is also well known as an IT solutions provider that focuses on networking solutions and related services.

The company trades across 550 cities in India and is headquartered in New Delhi. Tulip IT Services has recently set up its regional offices in Mumbai and Chennai. Tulip IT has signed a one-year contract with NTT Communication (India) with the objective to offer networking solutions to its customers in India. Apart from offering network-integrated services, it also undertakes the design and development of networks for its customers. In addition, Tulip offers other services to its clients that include:

Consultancy

Implementation

Post-implementation

Network management

Maintenance services

Tulip IT Services Ltd. is also engaged in providing point-to-point and point-to-multi point wireless applications with the last mile connectivity based on radio-frequency technology. Tulip also offers services on rural connections that connect the rural areas with Internet (or data connectivity) with the state government.

Tulip IT has established its global trade unit – a personally owned subordinate of the company – in Singapore and is popularly known as Tulip IT Services Singapore Pvt. Ltd. The company has focused on 4 broad spheres that includes:

• Network Integration (NI)
• Corporate Data Connectivity (MPLS, VPNs)
• Rural Connectivity
• Infrastructure Management Services

Financial Statement of Tulip IT Services for 2006-2007:

• Rs. 202.15 million (quarter ended in March, 2006) to Rs. 330.28 million (quarter ended in March, 2007) – a significant rise of 63.38 percent in net profits of the company
  
  
• Rs. 1776.30 million (quarter ended in March, 2006) to Rs. 2909.84 million (quarter ended in March, 2007) – a robust growth of 63.81 percent in the net sales of Tulip
  
  
• Rs. 1784.52 million (quarter ended in March 2006) to Rs. 2931.07 million (quarter ended in March, 2007) – 64.25 percent rise in the total income
  
  
• The earnings per share (EPSO of the company) came up to Rs. 11.40 per share for the quarter ended in March, 2007

Tulip IT has a manpower strength of about 1,500 all over India and supplies Data Connectivity to almost 800 cities in India including the remotest of towns and cities. The company has been in the news in recent times ever since its IPO unit ranked among the top 5 of IPOs in 2005, as rated by CNBC's ‘Moneycontrol’ website. Tulip has a market capitalization of Rs. 2000 crore (USD 500 million) and is known to be one of the leading top-notch business firms in its orbit. It also ranks 4th in voice and data magazine's networking services. Popularly recognized for its invention of wireless on the last mile, Tulip IT Services is still ruling the networking world by deploying MPL and VPN connectivity services all across the country and even reaching sub-urban areas at an impressive pace.

India, being a developing country, its telecom infrastructure is not yet fully equipped to compete with the telecom infrastructure of developed countries as far as connectivity requirements are concerned. Thus, the market is a lucrative one as far as India is concerned.

In this regard, Tulip IT Services has contributed to a phenomenal growth in the trade of data connectivity, networking, and wireless services. This in turn has paid rich dividends to the company’s stakeholders.