Financial Daily from THE HINDU group of publications
Wednesday, Jul 20, 2005
Financial Daily from THE HINDU group of publications Wednesday, Jul 20, 2005 |
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Info-Tech
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Software TCS to expand board, plans Rs 950-cr capex Our Bureau
(From right) Mr Aman Mehta who chaired the AGM; Mr S. Ramadorai, Chief Executive Officer & Managing Director, TCS, and Mr S. Mahalingam, CFO, at the company's AGM in Mumbai on Tuesday. - - Paul Noronha
Mumbai , July 19 TATA Consultancy Services is in the process of expanding its Board of Directors, said Mr S Ramadorai, CEO and Managing Director of the company, at its Annual General meeting here, on Tuesday. Currently, TCS has four directors on its Board, Mr. Ratan Tata, Chairman, Mr Ramadorai, Mr Aman Mehta and Mr Naresh Chandra. The company, whose corporate headquarters is located at Air-India building at Nariman Point in Mumbai, will soon have its own independent premises for its corporate and registered headquarters. The property, purchased from Tata group company Rallis a couple of years ago for Rs 133 crore, is being renovated at a cost of Rs 35 crore, he said, in response to shareholders' suggestions that a company of the size of TCS needed its own, standalone premises. The company's capital expenditure for the current year is Rs 950 crore, he said. Out of this, Rs 350 crore would go towards technology and Rs 600 crore would be spent on infrastructure upgradation. This would be required in view of the expansion in the pipeline, consisting of 13,500 employee additions this fiscal.
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