Satyam to up headcount by 67%

Satyam Computer Services Ltd, the Hyderabad-based consulting and IT services major, is planning to ramp up its employee strength.

The company has a workforce of  'close to 30,000' and intends to cross the 50,000-mark (or increase by 66.7 per cent) by March 2008.

Ratnesh, general manager -- human resources, Satyam Computer Services, said, "We have grown from around 8,000 employees to close to 30,000 within a span of a few years. This way, we are sure to cross the 50,000-mark by March 2008."

Earlier announcements made by the company reveal that Satyam had an employee strength of 9,759 on March 31, 2003. This number increased to 14,032 by March 2004, which means an addition of 4,273 associates.

A year from then, Satyam added 5,132 more employees to its empire, bringing its total headcount to 19,164 by March 2005. In 2005-2006, the company increased its manpower by 4,268 within a nine-month period, bringing it to 23,432 associates on December 31, 2005.

Satyam will be announcing its annual results for 2005-06 on April 21. The company is learnt to have crossed the magical figure of $1 billion in revenues during this period.

The annual guidance for the company was revised upwards in the light of 'better than expected performance for the first three quarters of 2005-06'.

As per consolidated Indian GAAP financials, its revenues for 2005-06 were projected to be between Rs 4,780 crore (Rs 47.8 billion) and Rs 4,786 crore (Rs 47.86 billion), implying an annual growth rate of around 35 per cent.

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