SAP, a business software solutions provider, will invest $1 billion (nearly Rs 4,500 crore) in India in the next five years and plans to increase headcount to 3,500 this year, its CEO Henning Kedarmann said on Monday.
Global enterprise software major SAP AG has set an ambitious target to enroll 100,000 customers in India by 2010 by aggressively focusing on the emerging as well and small and medium-sized firms.
From the 30-share blue-chip pack, Tata Steel, NTPC, Kotak Mahindra Bank, IndusInd Bank, Power Grid, Zomato, Adani Ports, Asian Paints, Mahindra & Mahindra and Reliance Industries were among the biggest laggards. Titan and Sun Pharma were the only gainers.
Entry level engineers for these roles can be paid between Rs 4 lakh to Rs 8 lakh annually, which can go beyond Rs 30 lakhs for people with more than eight years of experience.
"India has been the fastest growing country within SAP worldwide in 2007. We have doubled our revenues and customer base compared to last year. For the first quarter of 2008, SAP India registered a growth of 67 per cent in software license revenue," Bill McDermott, president and CEO, SAP Americas and Asia Pacific Japan states said without specifying a fresh investment target.
From the 30-share blue-chip pack, IndusInd Bank, NTPC, UltraTech Cement, Sun Pharma, Axis Bank, State Bank of India, Tata Steel, Power Grid, Adani Ports and Kotak Mahindra Bank were among the major laggards. Tata Consultancy Services jumped nearly 6 per cent after the IT services company reported an 11.95 per cent jump in the December quarter net profit to Rs 12,380 crore. Tech Mahindra, HCL Tech, Infosys and Bajaj Finserv were the other big gainers.
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India is of major strategic importance to SAP as it is a vibrant market with a sound technology development and services-support delivery. This visit is also to reaffirm their commitment to the Indian sub-continent, a company official said.
It hopes a significant part of its growth in India would come from the government sector, with the thrust on e-governance initiatives.
German software major SAP AG said on Tuesday that it would invest euro 20 million in expanding its facility in Bangalore and that it planned to increase the workforce to 3,000 by 2006.
German software giant SAP AG will invest 20 million euro for expansion of its India development centre in Bangalore.
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Leading business software solutions provider SAP on Monday said it plans to double its headcount in India to 4,000 by 2006.
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German software giant SAP plans to double its headcount in India to 1,500 next year, a senior company executive said on Tuesday.
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Business software solutions provider SAP India has said it plans to double its headcount to 7,000 and increase its customer base to 15,000 by 2010.
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With India's two leading IT outsourcing companies, Infosys and HCL Technologies, vying to acquire the UK-based consulting firm Axon, SAP implementation is back in focus.
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