The Hindu Business Line : Cognizant plans $76-m expansion

ANOTHER round of investment to the tune of $76 million is to be invested by the Cognizant Technology Solutions Corporation for the expansion of techno complexes in Chennai, Pune, Kolkata and Bangalore.

Talking to presspersons, Mr R. Chandrasekaran, Managing Director, Cognizant said this would mean an additional space of 8,30,000 sq ft and an increase in headcount by 9,000 employees. He noted that the investment would also be utilised for the setting up of the Cognizant Academy in Chennai, an exclusive training centre. This is expected to be ready by August this year, he said.

Mr Chandrasekaran said the company was building the second techno complex close to the existing facility in Pune. The estimated cost was about $18 million (approximately Rs 81 crore). He said Cognizant had requested the Maharashtra Government to allot about 40 acres of land for its further developments.

Mr Chandrasekharan said based on the current visibility, the company was anticipating first quarter revenue of 2005 to be close to $180 million, recording 50 per cent increase over 2004.

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