L&T Infotech Ltd, the wholly owned subsidiary of Larson and Toubro, will hire 1,800 people over the next 18 months to reach a total strength of 5,000 professionals.
Speaking to reporters after laying the foundation stone for a new software park in Bangalore, L&T chairman and managing director A M Naik said, "We have an employee strength of 3,200 and in 18 months we will touch 5,000 people."
He said the Bangalore centre, to be constructed in three phases for accommodating 3,000 professionals, would have a total investment of Rs 150 crore (Rs 1.5 billion). The first phase is slated to be ready in 15 months.
Naik said L&T Infotech, which reported revenues of Rs 380 crore (Rs 3.8 billion) in 2003-04, would clock a revenue of Rs 650 crore (Rs 6.5 billion) to Rs 700 crore (Rs 7 billion) this fiscal.
He said the firm was focusing on increasing expertise in the manufacturing and engineering domain and was also planning new software facilities in Chennai and Mumbai.
Naik said L&T, which is aiming at revenue growth of 20 per cent this fiscal, would make capital expenditure of Rs 500 crore (Rs 5 billion) on manufacturing, engineering and IT.
Ninety five per cent of the IT business, he said, was for the export market, with the rest for domestic and in-house business.
Naik said the company might be interested in acquisitions."
