The Hindu Business Line : Syntel to pump in $100 m for hiking capacity

Pune, Nov. 16 Expanding in its existing locations, venturing into new verticals and horizontals and eyeing a revenue target of $one billion by 2010 is the roadmap that Syntel has chalked out for itself for the next couple of years.

Mr Bharat Desai, Chairman, Co-founder and Chief Executive Officer, and Mr Keshav R. Murugesh, President and Chief Operating Officer, said the company would be investing close to $100million for capacity expansion.

Expansion plans

The IT and BPO firm is targeting Tier-II and Tier-III cities for further expansion and has short-listed a few locations.

The company currently has centres in Chennai, Mumbai and Pune.

Talking specifically about Pune, Mr Bharat said Syntel would be increasing its capacity to 6,000 people by the second quarter of the next fiscal. The company is in the process of drawing up its Phase-III expansion plans which would cover training, and recreation centres and increased seating capacity.

Syntel has already commenced construction of about 30-acre special economic zone at Sirisuri in Chennai.

In Phase-I, it would be constructing 7.5 sq lakh ft which would consist of three software development blocks. This is expected to be completed by the third quarter of 2008.

The Chairman said Syntel is also looking at including verticals such as pharmacy and life-sciences to its fold.

On the horizontal side, it is targeting the mobile applications area and has initiated a few pilot projects.

Mr Bharat said the company has recorded revenues of Rs 355.3 crore for the quarter ended September 2007 as against Rs 279.9 crore during the corresponding period last year, an increase of 27 per cent.

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