Financial Daily from THE HINDU group of publications
Sunday, Jun 11, 2006
Info-Tech - Software
States - Maharashtra
TCS to invest Rs 500 cr for Pune software unit
In the pipeline
The company plans to recruit 9000 professionals in Maharashtra during the current fiscal.
TCS plans to set up operations in Nagpur, Indore, Coimbatore, Bhubaneswar and Chandigarh.
THE MAHARASHTRA Chief Minister, Mr Vilasrao Deshmukh (centre), with the Tata Consultancy Services CEO & MD, Mr S. Ramadorai (right), and the Secretary-Industries, Mr V.K. Jairath, in Mumbai on Saturday. Paul Noronha
Mumbai , June 10
Tata Consultancy Services (TCS) said on Saturday that it would invest Rs 500 crore to set up a new software development facility in Pune.
The company on Saturday signed a memorandum of understanding with the Maharashtra Government to acquire 50 acres of land for the new project in the special economic zone, promoted by the Maharashtra Industrial Development Corporation at Hinjewadi-Phase-III
Initially, the facility will have a capacity of 5,000 seats but will be expanded to 10,000 later, Mr S. Ramadorai, CEO and Managing Director, TCS, said at a news conference here on Saturday.
He said the company plans to recruit 9,000 professionals in Maharashtra during the current fiscal. One-third of the over 60,000 employees of TCS are in Maharashtra, of which 2,500 are in Pune.
The facility, in addition to having a software development centre, would also house professionals from TCS's R&D and engineering services group. It will be operational in the next 18-24 months, said Mr Ramadorai.
Support to boost IT industry
The Chief Minister, Mr Vilasrao Deshmukh, who was also present at the press conference, said Maharashtra has recognised the "tough competition" from other States in attracting investments. The Government would provide infrastructural and other support including single-window clearance to boost IT industry in the State.
He said Hinjewadi is attracting international attention and a TCS campus in the area would increase the demand for land there.
Mr Deshmukh felt that the company should also consider extending its operations to places such as Aurangabad and Nagpur. It does have plans for operations in Nagpur and other cities such as Indore, Coimbatore, Bhubaneswar and Chandigarh, Mr Ramadorai said.
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