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Tech Mahindra (1) 23-Jul-08 11:41

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Posted by: zoombusiness on ( 23-Jul-08 11:41 )
Price : BSE: Rs 759.00 ( 1.93 % ), NSE: Rs. 758.00 ( 1.96 % )
Telecom solutions vendor Tech Mahindra has outlined a capital expenditure plan of $150 million (Rs 638 crore) for the next three years, according to its Chairman, Mr Anand Mahindra. He was speaking to shareholders at the 21st annual general meeting of the Mahindra group company. Of the planned spend, 60 per cent will go as investments in physical infrastructure such as buildings and real estate while 40 per cent will be used for enhancing technology, Mr C.P. Gurnani, President (International Operations) of Tech Mahindra told Business Line on the sidelines of the AGM. �Tech Mahindra is in the process of building campuses in places such as Belfast (Ireland), Milton Keynes (UK), Chandigarh and Kolkata,� said Mr Gurnani. Capital expenditure is the total amount of money spent by a company to acquire or upgrade physical or technological assets.

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