Would like to highlight one key aspect - Quality of Employees and Top Management. I was going through the top management profile and it seems to be quite mediocre and below average (except for MR. OMKAR P. HERLEKAR) Link - http://www.lasalabs.com/board_of_directors.html
Furthermore, it seems that company does not invest much into the quality of employees On a run rate basis, the annual employee cost is around 10 crores on a revenue of 240 crores which is meagre 4% of total revenue. I do take into consideration of the small turnover but you need some technical people to run the API business. Employee quality seems to be one challenge i guess.