NIIT Tech to give SEZ status to its Gr Noida facility

New Delhi, June 26 (UNI) Software services provider NIIT Technologies Ltd has plans to give a Special Economic Zone (SEZ) status to its 20-acre software development center at Greater Noida.

It will invest Rs 100 crore in the first phase of the development centre which will be through in the next two years.

''We have already acquired 20 acres of land for the campus.

The remaining five acres will be transferred from our brother company NIIT Multimedia in a week or so to give our Greater Noida facility a SEZ status. We will invest about Rs 100 crore in the first phase,'' NIIT Tech Marketing, Communication and Public Affairs Head Rajeev Narayan told UNI here today.

He added that the new campus will have a capacity to house 10,000 professionals annually and 3,500 in the initial phase.

NIIT Tech would be moving towards a gradual consolidation of all its existing facilities spread across Delhi, which are on long-term leases.

The company reported a 14 per cent rise in its net profit at Rs 19.2 crore during the Q4 of 2005-2006 as against Rs 16.9 crore in the corresponding period last year, besides announcing a dividend of 60 per cent on every equity share.

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