Cognizant to invest $76 M in Indian units
By agencies   |   Thursday, 08 December 2005, 20:30 IST
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KOLKATA: The information technology (IT) giant Cognizant would invest around $76 million across its centers in different cities of India. Announcing this, the company’s President and CEO, Lakshmi Narayan said, “The fund will be used to build up 9,000 square feet of office space across the cities, including the 1,000 square feet training academy in Chennai and the rest for the development center.” Cognizant is in a major expansion mode and increasing its global manpower from 15,300 in 2004 to 23,500 in 2005. “Out of this 70 percent will be deployed in India,” he said. In Kolkata, in 2005 the company has already recruited 1,000 professionals taking the total strength to 3,200 in the city. The company is also planning to acquire 10-15 acres of additional land in the Special Economic Zone (SEZ) area in West Bengal. Narayan said, “We are in talks with the West Bengal Government in this regard.” The total global revenue of the company in 2005 would be around $881 million compared to $586 million a year ago period, registering a rise of 49 to 50 percent.

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