The Hindu : Business : TCS' ambitious plans for Chennai

Online edition of India's National Newspaper
Friday, Jun 25, 2004

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Business

TCS' ambitious plans for Chennai

By Our Staff Correspondent

MUMBAI, JUNE 24. Tata Consultancy Services (TCS), Asia's largest IT services and consultancy company, has drawn up ambitious expansion plans for its operations in Chennai. According to TCS officials, the expansion plans in Tamil Nadu would create 8,000 new jobs as the new greenfield Siriseri complex will absorb over 3,000 new professionals and the existing Chennai complex will double its strength to 10,000.

The company has already acquired over 70 acres of land in Siriseri and is expected to become operational by 2005 with the new complex expected to house over 3,000 personnel. For the Chennai operations, the current employee strength of 5,000 will be ramped up to 7,500 in the next three years and to 10,000 in the next four years.

TCS crossed the coveted $1 billion in revenues in 2003-04 and the new additions to the Tamil Nadu operations would make the centre its largest global development centre, employing over 30 per cent of its total global workforce.

The plans for Tamil Nadu are in line with the company's new business strategy of developing the Southeast Asian markets. A few months ago, TCS set up a Singapore-based subsidiary to drive its new business initiative in the Asia-Pacific region. Chennai would be an ideal global development centre to cater to markets in Singapore and Malaysia, where Tamil is a recognised national language.

Earlier this month, TCS filed its draft red herring prospectus with the Securities and Exchange Board of India seeking approval for its maiden public offering of equity shares and seeking listing on the Mumbai and National stock exchanges.

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