Chennai-based Cognizant Technology Solutions is to invest about Rs 185 crore (Rs 1.85 billion) on expansion of its facilities in the country this year, a top executive of the company said on Monday.
R Chandrasekaran, managing director and executive director of the company told reporters in Chennai that the company plans to hire at least 4000 new IT professionals this year.
The company would invest around Rs 115 crore (Rs 1.15 billion) for setting up a second development facility in Chennai, he said.
Other plans on the cards included expansion of the facility in Pune and setting up an office in Bangalore, he added.
Chandrasekaran said the company hoped to have an overseas development centre in China by the end of this year. The project was slightly delayed due to some legal issues.
He said the company clocked a turnover of $380 million in 2003, a 60 per cent increase over the previous year. The turnover this year was projected to touch $520 million, he added.