Infosys Technologies Ltd. is planning to pump in Rs.1,100 crores in setting up centres across the country for the current fiscal, of which the investment in Special Economic Zones or SEZs for creating additional space account for Rs.1,000 crores. The company has invested Rs.400 crores in SEZs last year, out of total investment of Rs.1,150 crores, media reported.
According to T.V. Mohandas Pai, Director (Human Resources), the company's investment in SEZs had increased anticipating the removal of Software Technology Parks of India or STPI norms by 2010. He added that the incremental growth this year for the software major would come from SEZs.
In the last couple of years, the company has been setting up SEZs in Chandigarh, Hyderabad, Jaipur, Mysore, and Pune and it has started construction in Mangalore and by April next year will set up one in Thiruvananthapuram, the report said.
Among all the SEZ centres, Infosys' Mahindra City, on the outskirts of Chennai, was considered to be the largest. The first phase of Mahindra City SEZ facility on 129 acres of land is nearing completion with six software development blocks creating a seating capacity for 11,234 employees. Construction for the second phase will begin next month. In the second phase, two more buildings will come up in the campus with a built-up area of 5.80-lakh sq.ft. to accommodate 5,000 employees. The company has planned a total investment of Rs.1,250 crores in the SEZ, of which it has so far spent Rs.453 crores, Mohandas said in a statement.
Infosys currently has two campuses in Chennai - one at Mahindra City and the other at Sholinganallur. The total headcount in these campuses stands at 10,750 as of June 30, 2008. Both these operations have together seen exports of Rs.2,072 crores for the twelve months ended June 2008.
Mohandas added that the campus, when completed, would have a built-up area of 3.5 million sq. ft. spread across 110.35 acres and a capacity to house 25,000 employees.
Mohandas reportedly said that Infosys would add 25,000 employees in this fiscal. The company added 10,000 employees this quarter.
On the industry, S. Gopalakrishnan, Chief Executive Officer and Managing Director, said at a press conference in Chennai that though there was uncertainty in macro economy, IT services business would continue to grow. The opportunity for IT services among the industry, customer and geography-wise was enormous. The new services, which were added in the recent past, had been contributing over 50% of the total revenue, he added.
Regarding the acquisition of U.K-based consultancy company Axon, Gopalakrishnan added that the company has offered a fair price and it would be an attractive proposition for Axon.
At the BSE, Infosys shares are currently trading at Rs.1,704.00, down by Rs.4.00 or 0.23% on volume of around 1.40 lakh shares.
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