Comments Off

Bengaluru to be Infosys’s Major Seat if Development Plan Gets Nod

infoyssss Infosys has proposed a significant expansion of its operations   in about 21,500 seats at the Electronics City software hub by spending about Rs 2,000 crore. If the plan fructifies, it will make Karnataka’s capital the biggest centre for the Infosys has proposed a significant expansion of its operations in Bengaluru, adding company, surpassing Pune.
The company, which ended March 2015 with revenue of Rs 53,319 crore ($ 8.7 billion), has submitted a proposal to the government seeking clearances. Information technology minister SR Patil told ET that the software company is keen to pursue its investment plans in Bengaluru and create new jobs.
“Since Infosys’s proposed investment is more than Rs 100 crore, the proposal will go before the high-level committee on IT investments headed by chief minister Siddaramaiah. I am also part of this committee, and will ensure this is cleared at the earliest,” the minister said. At the end of March, Infosys employed 1.76 lakh people, of whom 34,431 were in Bengaluru and 37,115 in Pune.
Infosys is sitting on cash reserves of about Rs 32,800 crore, and wants to dip into this to create new facilities as it aims to touch $20 billion in revenue by 2020. According to construction industry experts, the company will need three years to build the new infrastructure.

The Infosys executive vice president in charge of infrastructure, Ramadas Kamath, declined to comment.

Infosys has, however, exited the proposed project at the IT park in Devanahalli near the Kempegowda International Airport, citing access issues and lack of drinking water. The firm had earlier planned to build its second-largest campus in Bengaluru at this IT park with about 20,000 seats.

Filed in: News

Related Posts

Bookmark and Promote!

© 2016 ItVoice | Online IT Magazine India. All rights reserved.
Powered by IT Voice