Tech Mahindra starts Noida centre
Tech Mahindra will employ 2,000 professionals at its Rs 100 cr software development centre in Noida.india Updated: Jun 01, 2006 15:49 IST
Tech Mahindra said on Thursday it will employ 2,000 professionals at its software development centre in Noida that has been built at an investment of Rs 100 crore.
The centre would house 2,000 professionals and play an integral role in the expansion of the company's service offerings and delivery capabilities, Tech Mahindra Managing Director and Vice Chairman Vineet Nayar said here.
The company has already hired 500 professionals and would ramp up to full capacity within a year.
The entire investment of Rs 100 crore would be through internal accruals, he said.
"With this centre we will start competency centres for SAP, SEIBEL and IBM. This centre will multiply our earnings by 30,000 to 40,000 dollars per year," Nayar said.
Tech Mahindra, formerly known as Mahindra British Telecom, has posted a 31 per cent growth in revenues to Rs 1242.7 crore last fiscal from Rs 945.6 crore in 2004-05.
Net profit has risen 130 per cent to Rs 235.4 crore in 2005-06 from Rs 102.4 crore in 2004-05.
"We have chosen Noida because of its rapidly developing infrastructure, IT friendly policies and access to a high quality pool of software professionals," Nair said.
The Noida centre is the sixth development hub for the company. It has centres in Chennai, Bangalore, Mumbai, Pune and Kolkata. Nayar said the company has no further expansion plans at the moment.