Cognizant to invest 30 mn USD in Hyderabad

Hyderabad, Dec 8: Cognizant, a leading IT services provider, today announed that it would invest over 30 million Dollars as part of its business expansion plans in Hyderabad city, by the end of 2008.

Addressing reporters here, Cognizant President and Chief Executive Officer Lakshmi Narayanan said the 30 million Dollars would be invested on land acquisition and to construct the first of its fully-owned techno complex.

It would significantly increase the company's footprint in the city with the addition of over 5,00,000 sq ft of land.

The proposed investment was part of a 200 million Dollar comprehensive programme to build new fully-owned techno-complexes across Chennai, Coimbatore, Hyderabad, Kolkata and Pune over three million sq ft, by 2008.

"We expect our new construction programme will enable us to meet growing customer demand in North America, Europe, South America and Asia," he said.

UNI