HCL Tech invests Rs 1,000 cr in tech hub

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Noida, Nov 1 (UNI) Country's fourth largest software exporter HCL Technologies' today said it will invest Rs 1,000 crore in its new technology hub, which was inaugurated here today.

''We expect the new facility to generate over one billion dollars from software exports annually. In the next five years, we expect a 30 per cent growth in revenues,'' said HCL founder Shiv Nadar.

The facility, spread over 46 acres of land, will accomodate about 15,000 people. The company will build similar hubs in Bangalore, Chennai, Coimbatore, Hyderabad, Lucknow, Manesar, Madurai and Nagpur.

Mr Nadar also clarified that the company's earlier operations in the city will not be consolidated with the new tech hub.

When asked about the impact of the rising rupee on the revenues, HCL Technologies CEO Vineet Nair said the company has already hedged 6-8 quarters.

''For every one per cent drop, margins outside the hedge are affected up to 40 basis points,'' Mr Nadar added.

UNI

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