Plans to ramp up headcount to 3750, with an added investment of Rs. 150 crore
Bangalore, January 14, 2006
Infosys Technologies (NASDAQ:INFY) today announced that it has expanded its presence in Kerala, with the Government of Kerala allotting 50 acres of land to the company in the new SEZ in Thiruvananthapuram. The agreement was signed in the presence of Honorable Chief Minister of Kerala, Mr. Oommen Chandy and Mr. P. H. Kurien, IT Secretary, Government of Kerala. Mr. N. R. Narayana Murthy, Chairman & Chief Mentor and Mr. S. Gopalakrishnan, Chief Operating Officer and Deputy Managing Director represented Infosys Technologies.
Infosys, which started operations in Kerala on January 1, 2004 with 50 software professionals, has grown to 550 employees today. Infosys is currently housed in "Bhavani" block of the Technopark campus in Thiruvananthapuram.
"We are happy to announce our expansion plans in Kerala", said Mr. N. R. Narayana Murthy. "The investment climate in the state has been favorable and in the first phase we intend to start construction of the Software Development Centre upon the full clearance of the SEZ. Infosys intends to invest Rs. 50 crore to create a state-of-the-art campus in Thiruvananthapuram with a capacity to seat 1250 software professionals."
In the second and third phases, Infosys intends to invest an additional Rs. 100 crore in the campus and increase its capacity further by 2500 seats.
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. 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 and our report on Form 6-K for the quarterly period ended September 30, 2005 filed on October 21, 2005. .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.
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