• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Our Bureau

CHENNAI, Oct. 17

THE Nasdaq-listed Cognizant Technology Solutions (CTS) has added 950 employees during the quarter ending September 2002.

Most of the recruitment was for the company's Indian operation at Chennai, Kolkata, Pune and Bangalore, said a CTS official. About 50 per cent of the recruitment was through campus interviews and the rest was lateral hires. Out of 5,200 employees, onsite headcount was 31 per cent and 69 per cent offshore, he added.

The company expects to close the calendar year with over 5,500 employees. The official said that the recruitment was more for the financial services sector, which saw a 35 per cent growth in revenue over the previous quarter.

This was followed by healthcare, manufacturing, logistics and retail. The US-based company, having a strong offshore presence in India, said that the capital expenditure and building plans in India were on track, and CTS would spend about $20 million in its facilities this calendar year.

In its foray into business process outsourcing, CTS in a release said that it was talking to four of its clients to pilot back office administrative work. The pilots are expected to start in the next couple of quarter.

CTS, meanwhile, revised its annual revenue guidance for the second time this year from $218 million to $226 million. Earlier, at the end of second quarter, the company revised its annual revenue guidance from $200 million to $218 million.

Send this article to Friends by E-Mail
Comment on this article to BLFeedback@thehindu.co.in

Stories in this Section
Microsoft pat for engineer

Copyright © 2002, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line