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IT major Infosys Technologies is all set to expand its operations in Hyderabad with a second campus that would come up in 550 acres with an investment of Rs 1,250 crore (Rs 12.50 billion) over the next ten years.
The Andhra Pradesh government signed a memorandum of understanding (MoU) with Infosys in the presence of Chief Minister Y S Rajasekhara Reddy and Infosys chairman and chief mentor N R Narayana Murthy in Hyderabad on Monday. T V Mohandas Pai, chief financial officer and director (finance and administration) also represented Infosys.
As per the MoU, the state government will allot 150 acres of land in the first phase and the remaining 400 acres would be allotted later.
The IT major has plans to ramp up its headcount in Hyderabad to 25,000 with Rs 1,250 crore investment over next 10 years.
"We are happy to announce our expansion plans in Hyderabad," said Murthy. "The state has a healthy investment climate and the government has been very supportive. We intend to invest Rs 1,250 crore in the next 10 years to create a new state-of-the-art campus in Hyderabad and have therefore requested the government for sufficient land for future expansion. The plan is to generate employment for 25,000 software professionals over this timeframe."
Infosys plans to invest Rs 450 crore (Rs 4.50 billion) in the first phase of the project and invest Rs 400 crore (Rs 4 billion) each, in the second and third phases of the project. The Infosys Hyderabad development center in Gachibowli currently employs over 5,000 software professionals.
The new campus will come at Mamidipally village.
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