Sonata investing 100 cr in new campus
Thursday, 13 September 2007, 19:30 IST
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Hyderabad: Investing Rs 100 crore in a campus near Hyderabad, Sonata Software, IT Services Company has announced plans to host its capacity about 2,600 people. Some time next year, the first phase of the campus slated to come up in a 7.8-acre site in a special economic zone will be ready. The company plans to increase the headcount from the current 625 to about 3,000 in three years. "This campus would be developed through internal accruals and would help the company tap the local talent pool," says The B. Ramaswamy, President and Managing Director. Addressing a press conference here on Tuesday, Ramaswamy said that the existing facility has a capacity to host about 800 people and the company expects to soon outgrow the available space. In the Hyderabad facility, Sonata handles outsourced product development work for independent software vendors (ISVs), multi-lingual capability, apart from managing a disaster recovery centre as a back up for its three other development centres based in Bangalore. According to Ramaswamy, last fiscal it earned revenues of Rs 914 crore and a net profit of Rs 48 crore. The company plans to build on its existing clientele and is looking at more opportunities in Europe. The company earned revenues of Rs 350 crore in the first quarter of this fiscal and expects to continue this growth trend witnessed over the last two to three years.
Source: IANS
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