Infosys' second development centre in the city to create more jobs in Kerala
Thiruvananthapuram, India, May 19, 2007
Infosys Technologies Ltd. today announced its plans to begin the construction of its first campus in Thiruvananthapuram, Kerala. The Honorable Chief Minister of Kerala, Shri V. S. Achuthanandan, today performed the groundbreaking ceremony for this development centre. Mr. K. Dinesh, Co-founder and Member of the Board, Infosys Technologies Ltd. was also present on the occasion. Infosys has already been operating out of a leased facility in Thiruvananthapuram since 2004. With the completion of the new facility, Infosys will have two full-fledged operations in the city.
Commenting on the occasion, Shri. V. S. Achuthanandan said, "Kerala is emerging as a key IT destination in south India. Infosys ramping up its presence in our state is a reaffirmation of this fact. The magnitude of Infosys' investment in its development centre demonstrates its long-term commitment towards Kerala and speaks volumes about the world-class facilities on offer here for its employees."
Speaking on the occasion, Mr. K. Dinesh said, "We are very happy to announce expansion plans in the state. I take this opportunity to thank the government of Kerala for the support extended to Infosys. We have plans to invest Rs. 306 crore and set up a state-of-the-art campus, which would include facilities for work and recreation for our employees. We expect to create 8000 seats at this center over the next few years."
Over the next year, in the first unit, Infosys plans to create a capacity to seat 1,500 employees. The existing facility at the Technopark campus in Thiruvananthapuram has a capacity of 1,100 seats and has seen an investment of Rs. 30 crore, as of March 31, 2007. This development centre has a world-class work environment designed to enhance productivity and efficiency. Infosys has also leased 40,000 sq. ft. of space in the Thejaswini Block at Technopark for expansion.
Infosys Technologies Ltd. (NASDAQ: INFY) defines, designs and delivers IT-enabled business solutions that help Global 2000 companies win in a Flat World. These solutions focus on providing strategic differentiation and operational superiority to clients. Infosys creates these solutions for its clients by leveraging its domain and business expertise along with a complete range of services. With Infosys, clients are assured of a transparent business partner, 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 75,000 employees in 44 offices worldwide. Infosys is part of the NASDAQ-100 Index. For more information, visit www.infosys.com.
Certain statements in this release concerning our future growth prospects are forward-looking statements, within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. These forward looking statements include those relating to our expansion plans in the state of Kerala, our plans to invest Rs. 306 crore in setting up a development center in Thiruvananthapuram, Kerala and our expectation to create 8,000 seats at this center over the next few years. 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, 2007. 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.
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