HCL Tech to hire 35,000 pros
The country's fifth-largest software exporter will set up three Special Economic Zones in Noida, Chennai and Bangalore over the next two years.india Updated: Aug 21, 2006 13:10 IST
The country's fifth-largest software exporter, HCL Technologies will set up three Special Economic Zones in Noida, Chennai and Bangalore over the next two years and will hire about 35,000 software professionals to man them.
The Shiv Nadar-led company will have a capital expenditure of about Rs 800 crore over the next two years out of which Rs 500 crore will go toward the three SEZs.
Chief Financial Officer of the Noida-based company SL Narayanan said that the first of these SEZs in Noida will be partly operational by middle of next year with an intake of up to 700 people initially.
He said over the next two to three years the company would hire about 35,000 professionals for these SEZs, which will be built exclusively for HCL Technologies.
While the SEZs at Noida and Chennai will be able accommodate 15,000 professionals each, the centre at Bangalore will a capacity of 5,000, he said.
At present, HCLT has about 32,000 professionals.
With a reserve of about Rs 1,600 crore, the company, he said is not looking at any further acquisitions and would rather try to strengthen execution of the contracts and focus on current acquisitions.
The company had started the exercise to merge its subsidiaries some time ago and has so far merged nine of them with itself.