TCS to expand board

By agencies   |   Wednesday, 20 July 2005, 07:00 Hrs
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MUMBAI: Tata Consultancy Services (TCS) is in the process of expanding its Board of Directors, said S Ramadorai, CEO and Managing Director of the company.

Currently, TCS has four directors on its Board, Ratan Tata, Chairman, Ramadorai, Aman Mehta and Naresh Chandra.

The company, whose corporate headquarters is located at Air-India building at Nariman Point in Mumbai, will soon have its own independent premises for its corporate and registered headquarters.

The property, purchased from Tata group company Rallis a couple of years ago for $32 million, is being renovated at a cost of $7.95 million, he said, in response to shareholders' suggestions that a company of the size of TCS needed its own, standalone premises.

The company's capital expenditure for the current year is $215 million, he said. Out of this, $79.5 million would go towards technology and $136 million would be spent on infrastructure upgradation. This would be required in view of the expansion in the pipeline, consisting of 13,500 employee additions this fiscal.

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