The Hindu Business Line : Infosys to invest Rs 1,250 cr in Hyderabad

IT major Infosys Technologies Ltd today announced plans to invest about Rs 1,250 crore in its proposed second campus in Hyderabad, which will see the company inducting 25,000 people over the next 10 years.

The company's existing Hyderabad campus currently hosts 5,200 people and it expects to create additional capacity for about 4,000 by the year-end.

MoU signed with AP

The company and the State Government signed a memorandum that envisages creation of a campus over a 550 acre of land. The State Government has identified about 150 acres for the phase one and the balance would be provided later. This assumes importance as the company had been negotiating for land with the home State of Karnataka for a while and had been recently hinted about allotment.

Healthy climate

The Chairman and Chief Mentor of Infosys, Mr N.R. Narayana Murthy, said, "the State has a healthy climate and the Government has been very supportive. We intend to invest Rs 1,250 crore in the next 10 years to create a next generation campus. At Infosys, it is a tradition to under promise and over achieve."

The Chief Financial Officer, Mr Mohandas Pai, said "about five years ago when we signed up with AP, we had hinted we will employ 2,000 people here and invest about Rs 100 crore. Thus far, we have invested about Rs 275 crore and have about 5,200 people and by the end of December 2006, we plan to invest Rs 225 crore to create a capacity to host about 4,000 people in the existing campus.

Another milestone

"This is another milestone for the company that is celebrating its 25th year. We continue to grow wherever there is possibility to expand operations. Bangalore too is on the cards. We have been recently intimated about allotment of land and it is for us to pursue with the authorities for the proposed land," Mr Murthy said.

CM's assurance

The Chief Minister, Dr Y.S. Rajasekhara Reddy, assured "fellow Infosians," that the Government would do all that was possible to ensure that they have better infrastructure. Citing the case of Outer Ring Road project and satellite townships, Dr Reddy said, "Hyderabad would be a different place to stay couple of years down the line."

Giving details of the project, Mr Pai said, "Infosys plans to invest Rs 450 crore in the first phase and Rs 400 crore each in second and third phases."

Being in a silent period, Mr Murthy and his team refrained from making any comments on issues relating to Progeon stake.

Related Stories:
Infosys plans another campus in AP

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