Processing .....please wait.. 
The article has been forwarded.... 
News >> Technology >>
L&T Infotech plans Rs 3 B capex
By agencies
|
Monday, 20 June 2005, 19:30 IST
MUMBAI: Larsen and Toubro Infotech (LTIT), the information technology arm of Larsen and Toubro, has embarked upon a Rs 3 billion expansion plan for the fiscal including setting up of four new software development centers.
"We will be spending Rs 3billion towards our expansion plans in this fiscal including setting up of four new software development centers", L&T Executive Vice President (IT & Technology Services Division), Devender Nath said.
The four new centers to be set in FY-06 would be in Powai, Mahape (Navi Mumbai), Chennai and Bangalore. "The investment will be Rs 800 million at Powai, Rs 800 million at Mahape, Rs 500 million at Chennai and Rs 850 million at Bangalore", Nath said.
The software development centers would consist of offshore development centers (ODCs) named after the clients wherein employees of L&T Infotech would be working for them.
He added that the expansions have been planned in order to keep space and infrastructure ready for future assignments.
The company is also planning to ramp up its existing workforce by adding atleast another 3,000 people in the fiscal.
"We are planning to hire at least 3,000 people in the current fiscal (2005-2006) including 1,000 people at the Powai facility itself which is due to be completed by June 2006, he said.