Indian consulting and IT services firm Satyam Computer Services has announced that it is further expanding its presence in its domestic market by committing investments worth $0.2 billion.
The company said that it plans to extend its operations in Chennai and open a software development centre in Madurai. The Madurai center is located on 50 acres of land and will start its operations with strength of about 3,500 people. The land has been sanctioned by the Electronic Corporation of Tamil Nadu under its IT and ITES special economic zones development plan.
Subu Subramanian, director and senior vice-president for manufacturing and automotive business group at Satyam, said that the company is also in the process of expanding its Chennai operations by building its own campus at the Elcot SEZ in the state. Currently, Satyam has nine leased facilities in Chennai with an employee strength of 8,000. At the end of the lease period, Satyam will transfer the employees to the new facility.
Mr Subramanian also said that the first phase of this project is expected to be operational by the middle of 2008 and will accommodate about 1,500 people, while the next two phases of the campus will be completed over the next three years, with a total capacity for 10,000 people.
Satyam recorded a revenue growth of 12.7% in second quarter 2008 ending September 2007. According to the company, the revenue for fiscal 2008 is expected to be between $2.07 billion and $2.08 billion with a growth rate of 41.5-42% over fiscal 2007.
Source: ComputerWire daily updates