Invests Rs. 475 crore in Phase I
Nagpur, India - February 22, 2014
Infosys today announced that it has commenced work on its new campus in Nagpur, Maharashtra. The Honorable Chief Minister of Maharashtra, Mr. Prithviraj Chavan, laid the foundation stone for the campus at Nagpur in the presence of Mr. N. R. Narayana Murthy, Founder and Executive Chairman, Infosys.
The new campus at Multi-modal International Cargo Hub and Airport at Nagpur (MIHAN), SEZ will be spread over 142 acres of land allocated by the Government of Maharashtra and will see construction undertaken in phases.
In the first phase of construction, the company will make an investment of Rs. 475 crore to create a built-up area of 9.5 lakh sq. ft. to seat 5,000 software professionals. Phase I of this state-of-the-art facility is likely to be completed in the next 24 months.
The campus has been designed by architectural firm Morphogenesis and will be developed and executed as per the highest rating guidelines of Green Rating for Integrated Habitat Assessment (GRIHA) and Leadership in Energy and Environmental Design (LEED). Many innovative ideas have been incorporated in the building design, energy utilization and water consumption patterns. The building will leverage radiant cooling technology, natural lighting, water recycling and will see the use of environment friendly materials in its construction.
Infosys is one of the largest employers in the IT sector in Maharashtra and this is the company’s third campus in the state. The first two campuses are situated in Pune. Infosys began its operations in Pune in 1996 and moved to a 25 acre campus at Rajeev Gandhi Tech Park in 1999. This campus has a built-up area of 5.9 lakh sq. ft. with seating capacity for 3,750 employees. Infosys has invested Rs. 220 crore in this campus and the current annual turnover from this development center is Rs. 1,086 crore.
The company’s second campus in Pune is situated on 114 acres, with a built-up area of 62.05 lakh sq. ft. with seating capacity for 33,000 employees. Infosys has invested Rs. 1,800 crore in the campus and the current annual turnover from this development center is Rs. 7,075 crore.
Mr. N. R. Narayana Murthy, Founder and Executive Chairman of the Board, Infosys said:
“Our investment in a third campus firmly establishes Maharashtra as a key region for Infosys. Maharashtra has always occupied a very special place in the journey of this company and we are thankful to the government for their unwavering support and encouragement. Nagpur is a culturally vibrant city and with industry focus shifting to non-metros, the city is rightfully staking its claim in this new dispensation.”
Infosys is a global leader in consulting, technology and outsourcing solutions. We enable clients, in more than 30 countries, to stay a step ahead of emerging business trends and outperform the competition. We help them transform and thrive in a changing world by co-creating breakthrough solutions that combine strategic insights and execution excellence.
Visit www.infosys.com to see how Infosys (NYSE: INFY), with US$7.4 billion in annual revenues and 158,000+ employees, is Building Tomorrow's Enterprise® today.
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, fluctuations in foreign exchange rates, 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 or expiration 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, 2013 and on Form 6-K for the quarter ended December 31, 2013. 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 unless it is required by law.
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