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News >> Technology >>
Syntel expands India operations
By siliconindia
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Tuesday, 19 November 2002, 20:30 IST
TROY: Syntel, Inc. (Nasdaq: SYNT), an applications Outsourcing and e-Business solutions company, Tuesday announced its expansion in India with new space in its Global Development Center complex in Mumbai as well as the opening of a new Global Development Center in Pune.
Syntel has had a technology presence in India since the early 1990s. In addition to Mumbai and Pune, the company also has a global development center in Chennai, India as well as sales/recruiting offices around the country.
"Clearly, our largest Fortune 500 clients have witnessed the tremendous advantages of global delivery for managing and developing new IT applications," said Bharat Desai, Syntel Chairman and CEO. "These are the first steps in a series of expansion programs we will launch over the near future."
Syntel opened a new Global Development Center in Pune, India, which is located approximately 2.5 hours from Mumbai. The facility, with capacity for more than 150 Syntel consultants, is part of an existing IT business complex in this thriving region. Syntel also announced plans to break ground in the fourth quarter of this year on a new 40-acre technology campus at the Infotech Park in Talawade, just outside of downtown Pune. This campus will have capacity for 9,000 Syntel consultants upon completion over a five-year construction program.
The company has also expanded its existing space at its SEI CMM Level 5- assessed Global Development Center in Mumbai, India. The new wing has capacity for more than 150 consultants.
Syntel has seen utilization of its India-based consultant workforce jump dramatically in 2002, growing from 42 percent at the beginning of the year to over 72 percent in the third quarter. Of Syntel's more than 2,500 total employees, approximately 1,600 operate from India.
According to IDC, the market for offshore outsourcing services is on track to nearly double from $9 billion in 2002 to $17.7 billion by 2005. While the challenging economic conditions have been a driver for the cost savings achieved in offshore outsourcing, clients also see quality improvements, speed to market advantages and abundant technical talent from top universities.