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Vishwanath Kulkarni

Bangalore April 20 Wipro Infotech is setting up a development centre in Egypt to cater to its clients in West Asia. The development centre at Cairo would be operational over the next couple of quarters, said Mr Suresh Vaswani, head of Wipro Infotech.

The company proposes to hire locally for the Egyptian development centre, which could begin with a couple of hundreds of engineers.

"We are in talks with the Egyptian government seeking their help to get the required skill sets," Mr Vaswani said. Traditionally, it is the Egyptian talent that's widely used in the Saudi Arabian market, he said.

Further, Mr Vaswani said the joint venture with the Dar Al Riyadh Group of Saudi Arabia — Wipro Arabia Ltd would be operational soon. Wipro Infotech owns 66 per cent stake in the joint venture, which is being floated to tap the local market.

Wipro Arabia will offer a range of IT solutions including application development and management, package implementation and system integration services.

The JV will have a combined workforce of some 300 people, of which about 220 will be from Wipro Infotech. In fiscal 2006-07, Wipro Infotech garnered a revenue of Rs 138 crore from West Asia, registering a year-on-year growth of 46 per cent.

For year-ended FY07, Wipro Infotech clocked a 46 per cent to record revenues of Rs 2,484 crore. The profit before income tax (PBIT) grew 47 per cent to touch Rs 214 crore. The services business, which accounted for 34 per cent of Wipro Infotech's revenues, grew 37 per cent.

For the March quarter, revenues grew 38 per cent to Rs 784 crore and accounted for 18 per cent of the company's total revenues.

More Stories on : Off-shore Development | Wipro Ltd

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