MindTree plans mega centre in Bhubaneswar

MindTree Consulting is planning to set up a centre in Bhubaneswar, Orissa, that will house 5,000 staff, a senior company official told NewsWire18 today.

"We have already acquired the land for the Bhubaneswar centre and I expect it to be operational by the end of 2008," he said.

He said the company will keep adding to its manpower at the rate it has been doing so far, provided there is no slowdown in the business.

Bangalore-based MindTree currently has a staff count of over 5,000, mostly at its Bangalore centre.

"So far, there is no significant slowdown that we see. We have been able to tackle the rise of the rupee against the US dollar by raising billing rates for fresh contracts and also by reviewing some old contracts to suit us better," the official said.

He said the company has not been directly impacted by the US subprime mortgage market crisis, in the sense it has "not lost a client" in its aftermath.

"But yes, there has been an indirect impact, because of an overall slowdown in the US economy," he said.

MindTree shares today closed at Rs 472.75 on the National Stock Exchange, nearly unchanged from Tuesday.