L&T Infotech to hire 1,800 people in 18 months
L&T CMD AM Naik said L&T Infotech, which saw revenue of Rs 380 cr in 2003-04, would clock Rs 650-700 cr revenue this fiscal.
L&T Infotech Ltd, the wholly owned subsidiary of Larson and Toubro, will hire 1,800 people over the next 18 months to reach a total strength of 5,000 professionals.
Speaking to reporters after laying the foundation stone for a new software park here, L&T chairman and managing director AM Naik said: "We have an employee strength of 3,200 and in 18 months we will touch 5,000 people."
He said the Bangalore centre, to be constructed in three phases for accommodating 3,000 professionals, would have a total investment of Rs 150 crore, including Rs 55 crore in the first phase to be ready in 15 months.
Naik said L&T Infotech, which reported revenues of Rs 380 crore in 2003-04, would clock a revenue of Rs 650 crore to Rs 700 crore this fiscal.
He said the firm was focusing on increasing expertise in the manufacturing and engineering domain and also was planning new software facilities in Chennai and Mumbai.
Naik said L&T, which is aiming at revenue growth of 20 per cent this fiscal, would make capital expenditure of Rs 500 crore on manufacturing, engineering and IT.
As much as 95 per cent of the IT business, he said, was for the export market, with the rest being domestic and inhouse business.
Naik said the company might be interested in acquisitions. "(The acquisition) will be domain specific in areas like manufacturing, ERP and financial services."
