Financial Daily from THE HINDU group of publications
Sunday, Apr 09, 2006
Financial Daily from THE HINDU group of publications Sunday, Apr 09, 2006 |
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Info-Tech
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Software Industry & Economy - Events MindTree plans development centre in Chennai Our Bureau
Chennai , April 8 MindTree Consulting Ltd plans to put up a software development centre in Chennai, said the company's Chairman, Mr Ashok Soota. Speaking to newspersons on the sidelines of a conference of Confederation of Indian Industry, Mr Soota said that while he could not yet mention the investment in the centre, it would be "multi-million dollars". He added that the Chennai centre would come up in the next 2-3 months. He said that MindTree had decided that it was only wise to have not more than three centres. The company has further decided that the three would be Bangalore, Chennai and Bhubaneshwar. Across the three places, the company would, over the next few years, have some 25,000 employees. MindTree, a Bangalore-headquartered IT and R&D services company, today employs around 3,200. It recently said that it would add 3,600. In 2005-06, the company achieved a turnover of Rs 460 crore ($102 million). For the current year, it has set itself a target of Rs 1,000 crore. The company has also said it would come out with its initial public offering later this year.
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