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News >> Technology >>
MindTree to hire 3,500 professionals
By agencies
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Monday, 03 April 2006, 19:30 IST
BANGALORE: MindTree Consulting, an information technology and research and development services provider, plans to float an initial public offer during the current financial and also hire 3,500 professionals by 2007-08, the management said.
The company has become the fastest Indian IT company to cross the $100 million mark in revenue. The Bangalore-based firm reached $102 million mark in revenues in 2005-06, an 83 percent growth over the previous year; the company in which ventral capitalists hold a stake of around 40 percent, proposed to go public in the second half of 2006-07, its Chairman and Managing Director Ashok Soota said.
R&D and IT services grew by a robust 75 percent and 87 percent, respectively. The company crossed the milestone in just six years. Historically, Indian software companies have taken two or three times as long to reach the $100 million mark, he added. Currently the company has a headcount close to 3,200.
Its General Manager, People Function, Puneet Jetli said the firm plans to hire 1,500 to 1,600 employees in the current financial year and another 2,000 in 2007-08.
Company's Chief Operating Officer Subroto Bagchi said the firm has signed an MoU with the Government of Orissa to start a 30-acre campus in the special economic zone in Bubaneshwar.
Besides the company is exploring the possibility of entering the knowledge process outsourcing segment. He also mentioned that the company is looking out for an acquisition, which would add to its domain knowledge.
The prospective acquisition would be in the region of $10 and $20 million but the company would also look at smaller buyouts as well, Soota added.