ITC Infotech India Ltd, a wholly owned subsidiary of the Kolkata-based ITC Ltd, plans to hire 2,300 professionals to touch a staff of 3,000 by December 2004, a top company official said on Wednesday.

"In the next three to four months, we should be closing at about 1,000 people from the present 700. We intend, by the end of the next calendar year to touch over 3,000 people," Sanjay Varma, managing director, ITC Infotech told reporters in Bangalore.

After inaugurating the ITC Infotechpark, a 36-acre campus in which ITC's cigarette factory was located a few years back, Y C Deveshwar, chairman, ITC, said the company would achieve a revenue of Rs 150 crore (Rs 1,500 million) during 2003-04.

Varma said ITC's share in the firm's revenues will dip to less than 15 per cent during the current fiscal, from about 95 per cent when the company was started three years ago.

ITC Infotech, he said, earned 50 per cent of its revenues from Europe, 30 per cent from the United States, 10 to 12 per cent from the rest of the world including Japan and the rest in India, with ITC and Unilever being the domestic customers.

Varma said the company recently bagged a $54 million contract from the US software product major Parametric Technology Corporation.

ITC Infotechpark has the potential to create 20,000 jobs and over a million square feet of knowledge workspace, he said.