Tech Mahindra opens IT hub, to hire 350

As part of its expansion drive, Tech Mahindra, one of the largest providers of solutions to telecom companies, on Tuesday announced setting up of its state-of- the art software development centre and integrated campus in Kolkata.

The company would invest Rs 80 crore (Rs 800 million) for the first phase of the campus called 'Tech Mahindra Technology Centre East', Vineet Nayyar, vice-chairman and MD, Tech Mahindra said.

The new centre, which would come up in an area spread over 12 acres, would be the first IT campus in the Bantala SEZ area. He said in the first phase, the campus would have a capacity to seat about 2,000 people.

State IT Minister Debesh Das, who was present on the occasion, said software exporting companies would be given land at the Bantala SEZ.

He said 87 acres were allotted to large IT companies like HCL and Cognizant, while 21 acres would be allotted to the small and medium units.

The company had set up its facility last year in the Bengal Intelligent Park at Salt Lake, which currently has 325 employees. It has drawn up plans to expand it and employ 350 more professionals in the current year, Nayyar said.

The Tech Mahindra MD said the city was chosen because of its rapidly developing infrastructure, IT-friendly policies and access to a high quality pool of software professionals.

On the company floating an IPO, Nayyar said it was certain "we will go public, but when we will go, I cannot say right now."

The company's revenue during the 2005-06 period, he said, had gone up to 1242.7 crore (Rs 12.42 billion) against Rs 945.6 crore (Rs 9.45 billion) in the previous year.

He said it had recorded 30 per cent growth in revenue during 2005-06 and expressed confidence of maintaining it in the current fiscal.