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March 6, 2001
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Money > Business Headlines > Report March 6, 2001 |
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Syntel India to invest Rs 2.40 bn on expansionBS Correspondent Syntel India, a 100 per cent subsidiary of Nasdaq-listed Syntel Inc, plans to invest Rs 2.40 billion in India over a period of 5 years in three phases. The company has acquired 40 acres of land at Talawde, near Pune, to set-up a software development centre which is a part of its first phase of investment involving Rs 90 crore. "All our expansions will come up at Pune where we have already acquired land to house 1,500 programmers. The second phase will be finalised after observing the trends in the industry," Sanjay Chheda, director of Syntel India said. The construction of the Talawde project will start in 3 months and is expected to be fully operational in 15 months. Currently, Syntel India has two software development centres one each in Bombay and Madras, with 900 professionals. "We have a vast interest in software development including in areas of financial services, insurance, manufacturing, telecom and logistics," Baru S Rao, chief operating officer of Syntel India said. Syntel is a leading applications management and e-business solutions company based in Michigan, USA.
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