The Hindu Business Line : iGATE Global to expand operations, double headcount in Hyderabad

It would invest about $3 million (Rs 12.5 crore) and double headcount in Hyderabad. Similarly, it plans an investment of Rs 25 crore at its Bangalore campus.

It is also considering setting up campuses at the Hyderabad and Noida centres.

The Chief Executive Officer of iGATE Global, Mr Phaneesh Murthy, said: "The company has established itself as an end-to-end solutions provider in the marketplace, and we expect to consolidate operations both in the technology solutions and the business process outsourcing arms of the company."

Addressing a press conference here on Saturday along with the company's Vice-President and Head of iGATE Hyderabad operations, Mr Satish Chandrasekaran, Mr Murthy said, "What we are witnessing now can be described as the second wave of outsourcing.

We expect more business to come to India. However, in the case of large corporations, they are chasing multi-million dollar deals. Therefore, we are eyeing deals in the range of $5-$10 million." Referring to the expansion of the Bangalore centre, Mr Murthy said: "The company was in the process of amalgamating Quintant with iGate and expects to complete this by January 2006.

This would be a valuable addition to us given the fact that it also has about 10 acres of land in Bangalore. Post the amalgamation, iGATE's holding would go up to 86 per cent."

The merger has to go through certain regulatory issues and all these have been thrashed out. The entire process of swap ratio has been arranged by AFF and KPMG.

Asked to comment about revenues during this fiscal, Mr Murthy said, "Quarter on quarter growth has been in the range of 5.5 to 6 per cent. Next year we would come up with a guidance for the whole year."

Commenting on macro trends, he said: "The industry is now faced with the prospect of growing attrition rates and we need to address this issue from an industry perspective."

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