Syntel market capitalisation up 75 per cent

Chennai, Feb 5 (UNI) Information Technology service provider Syntel, has pushed the market capitalisation up by 75 per cent to Rs 6,300 crore.

Syntel's year-over-year revenues increased by around 20 per cent to Rs 1202.39 crore, the company said in a release here today.

Syntel's global headcount year-over-year grew 37 per cent to reach 8,364, bulk of them based outside India.

Adding 21 new clients in 2006, and launching 395 new engagements, Syntel added nine new "Hunting Licenses" or preferred partnership agreements during the year, taking the total to 80 strategic relationships.

President and CEO Syntel Inc Keshav R Murugesh said "we expect to invest further Rs 180 crore during 2007 in India." "These investments will be focused on Mumbai, Pune and Chennai where our global delivery centers exist," he added.

UNI