Persistent Systems, a leading provider of software product development services, Monday announced the launch of its first phase of major expansion plans in India.

Among the plans are an increase in its team strength by 40 percent by the year-end, apart from the setting up of a new facility for 2,500 software professionals in Pune by March next year.

"Software product development services is developing rapidly and the market has witnessed remarkable growth in the last several quarters. Our expansion plans have been charted out to meet this growing market demand," Anand Deshpande, managing director of Persistent Systems, said in a statement.

Persistent's expansion plans are fuelled by a 79 percent increase in its export revenues for the last fiscal and an increase in its team strength by 240 percent.