Bartronics India is on the lookout for acquisition opportunities in Europe to expand its

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presence in the region. The Hyderabad-based company, which has bought out entities in the US and Asia in the past, is eyeing Europe as valuations appear attractive in the near future.

“We look at Europe as a future market with strong growth potential. A few companies have been in touch with us (for acquisitions). We are still looking at the right synergies and valuations,” managing director Sudhir Rao told Financial Chronicle.

Better margins as compared to other markets such as the US are also getting the smart card maker to look at Europe. “The continent resembles India in as much as the different cultures one encounters as one goes from one country to another to do business. But, overall, the market uses the US as a reference point,” Rao said.

Bartronics is also part of an ambitious project called ‘Aapke Dwaar’ in New Delhi, for setting up 2,000 G2C (government to citizen) Kiosks. These kiosks will provide a single-window for a variety of services that an ordinary citizen needs from various government departments.

The company envisages an investment of Rs 800 crore in the project. Seventy-five per cent of the amount would be raised through debt and the remaining through promoters’ contribution and accrued surpluses.

Bartronics is looking at earning of about Rs 500 crore per year from the project, which is expected to stretch over nine years.

For the present fiscal, the company is aiming at achieving turnover of Rs 1,000 crore. In the future, Bartronics is banking on its smart card business to drive growth. “Our investments in this business should fetch us significant returns. Government works such as the financial inclusion project would give us a good opportunity to up sales,” Rao said.

The company is also looking at the Unique Identity Programme as a chance to move to the big league, even though Rao concedes that the project is still 12 months away.