T.E. Raja Simhan, Chennai, February 16, 2009
The Hindu Business Line
Syntel Inc, the US-based software company with offshore centres in India, plans to invest $30-35 million in 2009 on capacity expansion in Chennai and Pune, according to its President and Chief Operating Officer, Keshav R. Murugesh.
The company may also acquire land banks in other Indian locations that might be incremental CapEx spend of around $5 million at this stage, he told financial analysts while discussing the company’s fourth quarter and annual financial results.
“We are creating all the capacity needed to be ready for a turnaround once the current economic uncertainty disappears,” Murugesh said.
The phase one of Syntel’s Chennai special economic zone centre at Siruseri on the Old Mahabalipuram Road should be ready towards the third quarter of this calendar year.
The 29-acre campus will consist of three software blocks with 5,100 seats capacity, a training block, a cafeteria and a welcome block. It will also build two new blocks in the Pune SEZ – one went on stream in January of 2009, he said.
Syntel ended 2008 with 12,232 employees globally, an addition of 654 people over 2007. While the bulk of the hiring was done in India, Syntel also hired key client facing employees in Europe and the US.
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