Rs 63cr invested in overseas subsidiaries: Infosys

Posted By: Staff
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Mumbai, Jun 2: Infosys Technologies, the Indian IT major has incurred a capital expenditure of Rs 63-crore in its three loss-making subsidiaries in China, Mexico and the US.

S Gopalakrishnan, the Infy Chief Executive Officer and Managing Director said, "We have invested Rs 22-crore each in Infosys Mexico and Infosys Consulting Inc based in Texas, US, while making an additional investment of Rs 19-crore in Infosys China during FY 09."

Infy invested Rs 193 cr ($45 million) in Infosys Consulting, a wholly owned subsidiary in Texas, US, to add high-end consulting capabilites to its Global Delivery Model. Its wholly-owned subsidiary, Infosys China, was formed to expand its business operations in China. The company invested Rs 65-crore (USD 14-million) of capital in Infosys China and advanced a loan of $10-million (Rs 51-crore) in FY 09 according to the annual report.

In Mexican subsidiary, Infosys Technologies S de R L de C V which was established in 2008, Infosys Board has approved an investment of up to Mexican Pesos 60-million. This firm is the first Latin American subsidiary.

Infosys meanwhile had reduced its capex (capital expenditure) plan in FY09. In FY 09, the company has invested Rs 1,177-crore towards capital expenditure as against Rs 1,370-crore in the previous year.

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