Syntel to invest 60 million USD in India

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Mumbai, Mar 4 (UNI) Syntel today announced that construction work for its 29 acre special economic zone in Chennai was on with the first phase having 6.5 lakh sq ft of space, including three Software Development Blocks (SDB) to hold 1700 seats.

The first phase would be ready by the end of this year. In addition, the company was also building a training block with 1200 seating capacity.

The investment was estimated to be around 60 million dollars.

The company said, it was making good progress in the contruction of its SEZ in Talawde in Pune. In Phase 1, the company will construct two Software Development Blocks each having a capacity of 1300 seats, to be completed by the middle of this year.

The company said that its revenue for 2007 increased by 25 per cent to touch Rs 1333.2 crore. Net income for the year went up by 23 per cent at Rs 248.3 crore compared to Rs 201 crore in 2006.

Sequential quarterly revenue growth was up by seven per cent at Rs 371.1 crore The Year-end global headcount of 11,709 was 40 per cent more than the previous year. It added 24 new clients during 2007 and launched 383 new engagement.

Syntel's Knowledge Process Outsourcing (formerly reported as BPO), grew over 155 percent year-over-year and represented more than 18 percent of overall revenues at the end of 2007.

This marks the 15th consecutive quarter of organic revenue growth for Syntel.

Syntel expects 2008 revenue in the range of Rs 1608 crore to Rs 1667 crore.

UNI VK DB SM1210

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