Infy staff to get Rs 126 crore bonanza

MYSORE: Infosys today announced a special bonanza of Rs 126 crore to its

58,000 employees as a part of its silver jubilee celebrations. The announcement

was made by Infosys chief mentor and chairman N R Narayana Murthy before a

gathering of over 7,000 people in his home town. He said the Infosys Employees'

Welfare Trust had set aside Rs 126 crore for disbursement among the company

staff to commemorate the silver jubilee year.

The amount that each of the employees would get would be directly linked to

the tenure of his/her service with the company, Murthy said.

Murthy attributed the success of the company to the economic reforms of 1991

ushered in during the tenure of P V Narasimha Rao as the Prime Minister and

Manmohan Singh as the finance minister.

“When we spent 1.5 times our revenue in 1992 to build India's first campus, I

knew we had started on a journey of worthy dreams. When we politely refused
General Electric's unreasonable conditions in 1995 and walked away from their

business, though they contributed to 25 per cent of our revenues and 8 per

cent of our profits, I knew we had build a courageous and principled

organization”, said Murthy.






“When Mr. Ramachandrappa, an attendant at Infosys told me recently and invited
me to his fabulous house that he had built, I knew our experiment in

democratization of wealth had achieved success and indeed had served a great

purpose. When Infosys Foundation financed and fulfilled the dream of higher

education of a bright but poor Hanumantappa belonging to a disadvantaged

community in Karnataka, I knew our hearts were in the right place. When I stood

up in front of 1500 investors and accepted that we had indeed erred in investing

some of our free cash flow in the secondary market and lost it, I knew we had

fulfilled our pledge to be transparent with our investors”, he added.






"Infosys is a shining example of the success of the economic reforms that were
pioneered by the trio (Manmohan Singh, P Chidambaram and Montek Singh Ahluwalia)

under the then Prime Minister Rao during the early nineties. As the architects

of the economic reforms, they have enabled enterprises like Infosys to flourish

by harnessing the potential of its employees and exploiting the business

opportunities worldwide," Murthy said.






Attributing the success of the company to the commitment of its
founder-promoters and employees for their excellence, high quality, fairness,

transparency and integrity, Murthy said Infosys had raised the image of India in

the community of nations and emerged as a benchmark for others to emulate.

Speaking as the chief guest, union finance minister P Chidambaram said that

the success of Infosys as a great enterprise makes all Indians proud and places
India among the frontline nations of the world in software and technology.






“We missed the industrial revolution, because, we were a colony. We started late
but we have caught up with the best in software industry. I am told, Nandan

tells rest of the world that IBM is a legacy, Infosys is a future,” Chidambaram

said.






Earlier, Infosys CEO and managing director Nandan M Nilekani said the silver
jubilee fest will be held at the company's offices across the world

till December.






During the inaugural occasion, the $2.1-billion company is holding a global
analysts' meet for about 2600 financial experts at its sprawling 270-acre

campus, which houses the world's largest corporate leadership institute.






Chidamabaram, Ahluwalia and Karnataka chief minister H D Kumaraswamy were among
the other dignitaries present on the occasion.






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