The New Jersey headquartered Rs 400 crore Cognizant Technology Solutions has chalked out plans to invest over Rs 125 crore over the next three years in its Indian operations.
The company, which is one of the fastest growing IT companies in the US, ranked as the # 1 small company in the US by Forbes magazine, is also all set to start operations in Bangalore.
Naresh Nagarajan, Director, E-Business, Cognizant, said that the company had finalised plans to take up 20,000 sq ft of space in the Information Technology Park, jointly promoted by the Government of Singapore and the state government.
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The Bangalore development centre will be the 10th such centre in India for the company apart from its operations in Chennai, Calcutta, and Pune.
The Bangalore centre will focus solely on hot technologies such as Telecom and e-business and has plans, over a three year period, to consolidate its competency in these emerging technology areas.
To this end Cognizant has recruited top and middle level managers from the European telecom market and has invested an undisclosed but substantial amount towards funding a research and development centre in Chennai, Nagarajan said.
In the current year, Cognizant is all set to consolidate the gains it has made hawking its e-business expertise in the North American and European markets.
The company has, according to Nagarajan, been able to add another 14 new clients to its e-space roster, in the B2B market, out of which a majority are Fortune 100 companies and three leading dotcom companies in North America.
The Bangalore operations according to Nagarajan will be ramped up in the next three months and that Cognizant was now looking at a senior person in the level of a director or vice-president to head its operations in the city.
The company will also be re-locating four of its clients to Bangalore within the next quarter while by January 2001, the company hopes to surge ahead full-steam.
With revenue in the first quarter ended March 31, 2000, growing by 33 per cent the company is looking at an average growth rate of about 50 per cent every year by concentrating on the vast market that the convergence of the telecom business has had with the e-commerce segment.