Acquires 100 acres of land in Pune Infotech Park Phase II
Bangalore, August 11, 2003
Infosys Technologies (NASDAQ:INFY), the leading IT consulting and software services provider, today announced its plans to ramp up operations in Pune. The company, which already holds 25 acres of land at Pune Infotech Park, Hinjewadi, today acquired 100 acres of land in Phase II of the Infotech Park. Infosys plans to invest approximately Rs 250 crores in the facility over the next few years.
This expansion will enable the Infosys centre to house an additional 5,000 software professionals. The Pune centre currently employs 2200 people and it generated revenues of Rs 380 crores for the year ending March 31, 2003. The Development Centre in Pune anchors Infosys' relationships with multimillion-dollar clients from Canada, East coast of US, Europe and Asia-Pacific regions.
Infosys was started in Pune in 1981 and later shifted to Bangalore, Karnataka. It re-established its connections with Pune in 1995 and subsequently set up a state-of-the-art facility in the Pune Infotech Park. Infosys has so far invested Rs 126 crores in its facilities in Pune.
Announcing the decision, Mr. Kris Gopalakrishnan, Chief Operating Officer, Infosys Technologies Ltd said, "Infosys has followed a strategy of setting up world-class software development centers in places where there is rich local talent as well as the required infrastructure. Pune has provided us with both of these and we are happy to expand our operations in this city. The Government of Maharashtra has been extremely co-operative and progressive in its IT initiatives and this has been an important factor in the growth of Infosys operations here."
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, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, 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, 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, 2002 and Quarter 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 statement that may be made from time to time by or on behalf of the company.
For further information, please contact: PR_Global@infosys.com