The Hindu Business Line : Cognizant plans to invest $100 m more

Chennai, Aug. 1 Cognizant Technology Solutions Corporation will invest $100 million (around Rs 410 crore) in India in addition to the previously-announced $200 million infrastructure expansion programme across the country.

Only last month did the Nasdaq-listed American company with development centres in India announce a $200 million investment through the end of 2008 to build new fully owned, techno-complexes in Chennai, Coimbatore, Hyderabad and Kolkata.

At the end of June 2007, Cognizant had 45,550 employees on its rolls, against close to 30,000 a year ago.

In the last four quarters, the company achieved revenues of $ 2 billion; the company took six quarters to reach its first $ 1 billion.

For the second quarter ended June 30, 2007, Cognizant’s net profit was $82 million, up 49 per cent from $55 million during the corresponding quarter a year ago. Revenue was $517 million ($337 million), says a press release.

Cognizant has also revised its revenue guidance for 2007 to at least $2.11 billion, up from $2.07 billion announced end of Q1 2007.

Mr Francisco D’Souza, President and CEO, Cognizant, in the release said the second quarter performance was driven by growth across all dimensions of business -- vertical industry segments, service-areas and geographies.