Bangalore, March 27, 2006
Infosys Technologies today announced that it wishes to expand its presence in Hyderabad in 550 acres of land. The Government of Andhra Pradesh has already identified 150 acres for Infosys and the balance of 400 acres will be identified in the near future. A Memorandum of Understanding (MoU) to this effect was signed with the Government of Andhra Pradesh in the presence of Honorable Chief Minister of Andhra Pradesh, Dr. Y. S. Rajashekara Reddy. Mr. N. R. Narayana Murthy, Chairman & Chief Mentor and Mr. T. V. Mohandas Pai, Chief Financial Officer and Director (Finance and Administration) represented Infosys Technologies.
"We are happy to announce our expansion plans in Hyderabad," said Mr. Murthy. "The state has a healthy investment climate and the Government has been very supportive. We intend to invest Rs. 1250 crore in the next 10 years to create a new state-of-the-art campus in Hyderabad and have therefore requested the Government for sufficient land for future expansion. The plan is to generate employment for 25,000 software professionals over this timeframe."
Infosys plans to invest Rs. 450 crore in the first phase of the project and invest Rs. 400 crore each, in the second and third phases of the project. The Infosys Hyderabad Development Center (DC) in Gachibowli currently employs over 5000 software professionals.
Infosys (NASDAQ:INFY) defines, designs and delivers IT enabled business solutions. These provide our clients with strategic differentiation and operational superiority, thereby increasing their competitiveness. Each solution is delivered with the industry-benchmark Infosys Predictability that gives our clients peace of mind. With Infosys, they are assured of a transparent business partner, business-IT alignment with flexibility, world-class processes, speed of execution and the power to stretch their IT budget by leveraging the Global Delivery Model that Infosys pioneered. Infosys has over 49,000 employees in over 30 offices worldwide. For more information, visit www.infosys.com.
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934 including statements related to our plans to invest up to Rs. 1250 crore in the next ten years to create a new campus in Hyderabad and our plans to generate employment for up to 25,000 software professionals over the same timeframe. These forward-looking statements are subject to 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 the success of our investments, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, intense competition in IT, business process outsourcing and consulting 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, 2005 our report on Form 6-K for the quarterly period ended June 30, 2005 filed on July 28, 2005, our report on Form 6-K for the quarterly period ended September 30, 2005 filed on October 21, 2005 and our report on Form 6-K for the quarterly period ended December 31, 2005 filed on January 23, 2006. .These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. We do 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