Bangalore, August 20, 2003
Infosys Technologies (NASDAQ:INFY), the leading IT consulting and software services provider, today announced its plans to expand operations in Chennai. The company, which has a 13-acre campus in Sholinganallur, has now added 129 acres of land in Mahindra City, for its second campus. Infosys plans to invest approximately Rs 250 crores in the facility which has the potential to grow to a 5,000-people campus.
Announcing the decision, Mr Nandan Nilekani, CEO, President, and MD, Infosys Technologies said, "Mahindra City offers truly world class infrastructure to match our status as a global player. We are committed to providing the best facilities for our people and I am sure our campus at the Mahindra City would prove to be an ideal environment for our employees."
Speaking on the occasion, Mr. Anand Mahindra, Vice Chairman and Managing Director, M&M said, "India is poised to achieve exponential growth rates, and become one of the most dynamic economies in the world. I believe that Mahindra City, with its outstanding facilities and services, exemplifies this new India that is world-class. It is therefore a matter of great pride for the Mahindra Group that Infosys - a global leader and a pioneer, has decided to establish a new complex within Mahindra City."
Infosys' Chennai operations started in 1995 and the company has so far invested Rs 100 crores in the campus. Exports from the Chennai centre, which currently employs 2400 people, stood at Rs 548 crores for financial year ended March 31, 2003.
Mr. Kris Gopalakrishnan, Chief Operating Officer, Infosys Technologies Ltd said, "Infosys' Chennai operations have grown rapidly since the time of its inception. It is one of the first centres to have implemented the practices of the CMMISM model to provide measurable business benefits to clients. The new centre and our expansion plans are testimony to the dedication and high quality work produced by our Chennai team. We are also grateful to the Government of Tamil Nadu for being extremely co-operative and progressive in its IT initiatives, which has been an important factor in the growth of Infosys operations here.
Mr. Arun Nanda, Executive Director & President, Infrastructure Development Sector, M&M said, "I am delighted Infosys has chosen Mahindra City as its destination to house its new facility. When we decided to set up the industrial park the objective was to create a world class integrated facility, a business city where the most demanding customers ask for the best and get it."
Infosys, a world leader in consulting and information technology services, partners with Global 2000 companies to provide business consulting, systems integration, application development and product engineering services. Through these services, Infosys enables its clients to fully exploit technology for business transformation. Clients leverage Infosys' Global Delivery Model to achieve higher quality, rapid time-to-market and cost-effective solutions. Infosys has approximately 17,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward -looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2003 and quarterly report on Form 6-K for the quarter ended June 30, 2003. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com