Apr 10, 2008, 09.01 AM IST | Source: Business Line

Syntel to invest $60 m in capacity expansion

Syntel Inc, a US-based software company with offshore development centres in India, plans to invest $50-60 million in capacity expansion in India this year. This will enable the company to add around 6,000 seats to accommodate 2,800-3,500 employees, according to the companys President and COO, Mr Keshav Murugesh.

Chennai, April 9

Syntel Inc, a US-based software company with offshore development centres in India, plans to invest $50-60 million (Rs 200-240 crore) in capacity expansion in India this year. This will enable the company to add around 6,000 seats to accommodate 2,800-3,500 employees, according to the companys President and Chief Operating Officer, Mr Keshav Murugesh.

A provider of integrated information technology and knowledge process outsourcing solutions, Syntel added over 1,000 employees during the fourth quarter to finish 2007 at 11,709 worldwide. In the year, the company added more than 3,300 employees, a 40 per cent increase over 2006.

It spent over $32 million in capex during 2007 and added more than 4,000 finished seats in India.

In support of our revenue guidance, we will be building out phase II of our Pune campus and phase I of our Chennai campus for 2008 requirements and beyond, he told analysts while discussing the companys 2007 fourth quarter and years financial results.

Many companies are being forced to address strategic business decisions in a challenging economic climate. Regardless of the outcome of these decisions, Syntel is well positioned in both short and long-term to take advantage of the trend towards globalisation of services.

Our confidence is demonstrated by the 2008 investment levels, he said.

contd on page 2...

1 2

ADS BY GOOGLE

Buy & sell politicians on Power Play
- the political stock exchange

Price Update

Rahul Gandhi

575.79 -0.44 -0.08%

54599

Bought today

50837

Sold today

0.21%

User holding

video of the day

Chandra says satisfied with TCS' FY14, FY15 to be better

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.