BANGALORE: MindTree Consulting, an international IT and R&D services company, today announced that it has chosen Chennai as the first city outside Bangalore to set up its development center.

The firm said in a statement here that it will launch its operations in Chennai next month.

MindTree's Chennai development center will start with 150 employees and quickly ramp up to 300 by the end of the current fiscal. MindTree has plans of setting up a campus in Chennai that will seat 5,000 people.

The company is exploring options of acquiring land for the proposed campus.

“MindTree has emerged as one of the fastest growing IT companies in India. In order to sustain this growth, we need to expand our presence to other key IT hubs in the country. We find Chennai as the city most conducive to our needs. The city has a base of rich talent pool and continues to attract more from neighbouring states. MindTree, which has heavy focus on developing intellectual properties and works on some of the cutting edge technologies, will benefit from the proximity of educational institutions such as the IIT that produce some of the finest engineers,” said MindTree Consulting chairman & managing director, Ashok Soota, adding, “Moreover, Chennai also has an impressive infrastructure that supports the city's rapid growth. The launch of MindTree's Chennai operations is a significant step forward in the journey to meet our vision of $231 million in revenue in 2007-08.”

MindTree in April had announced an impressive 85% growth in revenue over the previous year to become the first IT Company in India to cross $100 million in revenue in six years. MindTree expects to add about 1,400 people this year to the 3,200 it had at the beginning of the year. It has also set an aggressive target of 50% growth this year. Earlier this year, MindTree signed an MoU with Orissa Government to set up a development center in Bhubaneswar.

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