Company Press Release:
Tulip rolls-out ‘TULIP CONNECT’ – India’s largest MPLS Data Connectivity Network
 Offering Wireless Data Connectivity in 350 cities on India’s First & Largest Wireless Umbrella
 
Lt. Col. H S Bedi, Managing Director, TULIP IT Services, announces the launch of TULIP CONNECT - India’s largest and only MPLS enabled IP / VPN Network offering wireless last mile connectivity in 350 cities. TULIP CONNECT has been set-up with an investment of Rs 180 crores and will contribute significantly to the company’s topline growth.

New Delhi, March 9th, 2006:  Tulip IT Services Ltd. (BSE/NSE: TULIP), a leading provider of end-to-end data connectivity, today announced the launch of India’s largest MPLS enabled Internet Protocol Virtual Private Network (IP/VPN) – TULIP CONNECT. This data network covers over 350 Indian cities and has been set-up with an investment of Rs 180 crores. TULIP CONNECT is the only network in India to offer last-mile data connectivity entirely on wireless. TULIP CONNECT will focus on providing data connectivity for banks / ATM’S, connecting corporates with their branches, dealer / distribution networks across the country, stock-brokers, media companies and government agencies. A number of leading corporate and banks have already signed-up for utilizing the services of TULIP CONNECT. Some of Tulip’s large customers include HDFC Bank, Bharti, NDPL, Tata Motors Finance, amongst many others. The company aims to expand the network to over 500 cities, by end of calendar year 2006.
 
In December 2005, Tulip IT Services had come out with an IPO of 90,00,000 shares issued at Rs. 120 each to aggregate Rs. 108 crore. This issue was oversubscribed by over 24 times and was listed on BSE on January 5, 2006 at Rs. 180. The company had promised investors a very rapid project roll-out. With today’s launch of TULIP CONNECT, the company has set up India’s largest MPLS based data network in a very short time span. Tulip IT Services Ltd. posted a turnover of Rs. 342 crore in FY 05, with net profit of Rs. 14.6 crore. The company continues on its strong growth path and has achieved revenues of Rs. 330 crore in the first 9 months of FY 06, with a net profit of Rs. 28.60 crore. With the launch of TULIP CONNECT, Tulip IT Services Ltd. aims to capture a large part of the data connectivity market.

TULIP CONNECT offers an unparalleled, managed end-to-end MPLS (Multi Protocol Label Switching) enabled network that uses wireless connectivity for the last mile. This network will provide reliable Data connectivity that is managed for uptime and bandwidth; reliable; Independent of the quality of infrastructure and supported for uptimes in excess of 99.5+ percent.

Tulip also announced plans to launch Level 3 Data Centers in Delhi, Mumbai, Chennai and Bangalore to enable customers to host their servers and network equipment with ready availability of connectivity to all major service providers.  With this launch, Tulip is targeting to become a leading player in managed data services to businesses.

On the occasion, Lt. Col. H.S. Bedi, VSM, Managing Director, Tulip IT Services Ltd, stated “Tulip IT Services Ltd. has always been a thought-leader and innovator in identifying growth and expansion opportunities in a dynamic business environment. India finds itself in the middle of an economic boom with strong business & industrial growth. Unlike the past, this growth is not restricted to the metros and major cities alone, but across the country. This has created an unprecedented demand by the Indian industry for secure, reliable and expandable Data connectivity. Tulip pioneered the deployment of large scale wireless connectivity in a cost-effective manner and this expertise has enabled us to roll out TULIP CONNECT, India’s most extensive data-connectivity network offering wireless for last mile connectivity in over 350 cities.”

TULIP CONNECT is designed to provide both inter-city as well as intra-city connectivity. Tulip’s inter-city network is based on optical fiber cable provided by multiple service providers. The last mile connectivity is entirely based on wireless, using radio frequency technology in Point-to-Point and Point-to-Multipoint applications. Licensed frequencies are used in major cities to overcome the interference issues. Tulip Connect has multiple inbuilt redundancies and provides the highest levels of uptime.
In addition, this network will offer bandwidth on demand, upgrade in minutes, immediate connectivity and co-location services. In addition, Tulip will also provide Value Added Services (VAS) such as Video Conferencing services, Dynamic Bandwidth on Demand and Disaster Recovery services.
 


About Tulip IT Services:
Tulip IT Services Ltd. (BSE/NSE: TULIPIT) initiated business operations in November 1992, as a company primarily trading in software products. Since then, Tulip has seen a tremendous growth through diversification and consolidation in connectivity services. Today Tulip IT Services Ltd. is a leading provider of data connectivity by offering countrywide VPN Connectivity using wireless for the last mile. The company is headquartered in New Delhi and has regional offices in Mumbai, Chennai and Calcutta. Tulip employs over 750 employees who provide world-class service to over 250 clients across the country. In fiscal 2005, Tulip IT Services recorded net revenue of Rs. 342 Crores.

Today, Tulip IT Services offers an unparalleled MPLS based network, offering end to end connectivity in over 350 cities in India. Tulip’s offerings can be divided into three categories: Tulip Connect; which is its Data connectivity service, Network Integration and Rural Connectivity. Services provided by Tulip have been certified as conforming to ISO 9001:2000 standards by KPMG. The company is in the process of adopting ITIL based service delivery processes and ISO 27001:2005 based security processes. Tulip’s core business is providing reliable data connectivity to organizations who want to create a secure data network for their branches, dealers, vendors and C&F agents. Tulip provides Point-to-Point as well as Point-to-Multipoint connectivity with the last mile connectivity based on radio frequency technology.