The Hindu : Business : Infosys in expansion mode

Online edition of India's National Newspaper
Thursday, Mar 03, 2005

Business

Business

Infosys in expansion mode

By Our Special Correspondent

BANGALORE, MARCH 2. Infosys Techologies is on an expansion mode and has sought from the Government 300 acres near the proposed Bangalore International Airport and another 50 acres in the proposed hi-tech city project, near the Electronics City.

The Chairman and Chief Mentor of Infosys, N. R. Narayana Murthy, told presspersons that project proposals had been submitted and once Government clearances were through it would take about 8-9 months to put up structures. He refused to divulge the details on the investment, money as well as human resources. Mr. Murthy made this announcement after a visit of the Chief Minister, N. Dharam Singh, to the Infosys campus in the Electronic City.

At present, about 45 per cent of the nearly 35,000 Infosys staff were in Bangalore, he said and clarified that the company had not put all eggs in one basket as it had development centres in nine places across the country.

The Chief Minister also confirmed that the process of land acquisition was in the final stages and that the State Government would support fully the endeavour of Infosys as the company was the "pride of Karnataka".

He also assured the IT bellwether chief that priority would be given to infrastructure development considering the revenues the IT-BT sectors were generating.

The Chief Financial Officer of Infosys, Mohandas Pai, explained that the IT sector was growing rapidly and Infosys had revenues of $1.06 billion last year and had targeted $1.58 billion this year.

The company had 35,200 employees and 434 clients and these numbers would continue to grow. About 10 lakh people applied for jobs every year with Infosys.

Projecting employment potential in the IT sector, he said that it would double to about five lakhs by 2008 and software exports were estimated to touch Rs. 45,000 crores by 2008.

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