TCS plans Rs 1,000 cr capex

The company will invest the money on technological upgradation and infrastructure.

The country's largest software exporter, Tata Consultancy Services (TCS), has planned a capex of Rs 1,000 crore for the current financial year.

This includes investment on both technology and infrastructure. The company's aim is to become one of the top 10 companies globally by 2010.

Addressing mediapersons, S Ramadorai, chief executive officer and managing director, TCS, said, "We have outlined a capital expenditure of Rs 1,000 crore this year. We will be expanding at current locations and are looking at destinations such as Chandigarh, Bhubaneswar, Kochi, Coimbatore, Nagpur, Indore and Visakhapatnam as well."

TCS employs more than 60,000 people today and will be adding more than 30,000 this year. Taking attrition into account, this will amount to net addition of around 25,000 employees.

"We will be adding around 4,000 international associates," Ramadorai said. The company plans to increase its headcount in Hyderabad to 10,000 by 2010 from over 4,200 now.

"Today, we are at the 12th position in the world in terms of revenues. We are looking at being a part of the league of top 10 by 2010," Ramadorai said. TCS was also the sixth in the world in terms of profits and fifth in terms of market capitalisation, Ramadorai said.

While admitting countries such as China, Russia, Philippines, Vietnam and Indonesia as potential competitors, Ramadorai said Indian companies and institutions had the potential to innovate and succeed.

On overseas listing, he said a call would be taken at the right time.

On reservations, he made it clear that merit continues to be important for TCS and it would rather see alternative models for benefiting the backward classes than reservations.