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From a Network Management company called AdventNet Inc. in 1996 to introducing ‘Zoho Remotely’ to facilitate ‘work from home’ in 2020, the company ‘Zoho Corporation Private Limited’ has touched almost every corner of software development and web-based business implements. Zoho is an Indian software development company and IT business corporation, which began its operations in 1996.
Sridhar Vembu and Tony Thomas founded Zoho. Recently, on the occasion of India’s 72nd Republic Day (2021), Sridhar Vembu became the recipient of the prestigious Padma Shri.
Zoho’s vision is to create superior software to solve all business problems. The company’s investment is more in developing its products and customer support rather than focusing on sales and marketing.
Zoho witnessed a 22.3% rise in its operational revenues, which grew from Rs 4,274 crore ($570 Mn) in FY20 to Rs 5,230 crore ($697 Mn) during FY21. The total revenue of the company rose from Rs 4,385.9 crore to Rs 5,442.4 crore during FY21.
The expenses of the company have been slightly reduced from Rs 3,369.7 crore, which it saw during FY20, to Rs 3,024.1 crore in FY21.
The profits of the company, which was last reported at Rs 800.8 crore ($106.8 Mn) in FY20, surged by 2.4X to become Rs 1,918 crore ($255.7 Mn) during FY21.
Zoho earned most of its revenues from its United States market, which made up for 42.7% of its sales, worth Rs 2,233.3 crore ($297.8 Mn). The smallest market of Zoho was the Indian market, which added 4.7% or around Rs 250.5 crore ($33.4 Mn) of its operating revenues in FY21.
Sridhar Vembu says that the company will focus on expanding its distribution and cloud connectivity to rural areas to boost the local economy. Zoho’s vision is to restore the economic viability of rural regions through effective cloud technology, i.e., ‘Cloud-enabled rural revival’.
Zoho has further announced that it would be setting up offices in over 100 rural districts of India and would hire somewhere between 1000-2000 local talents.