Cognizant to up headcount to 17,200

PUNE: IT and BPO services firm Cognizant plans to touch 56,000 people in its global headcount by 2007 with the addition of 17,200 professionals this year.

This would also entail addition of 2000 more people in Pune; thereby increasing headcount from 4,500 today to over 6,500 professionals by end of December 2007.

The company is in the process of finalizing the acquisition of 30 acres of land in Hinjewadi Phase 3.

It will expand its existing infrastructure with addition of leased facility at ISH Infotech measuring 1,80,000 sq. ft. to accommodate about 1,600 professionals.

Pune is Cognizant’s second largest development center and handles areas like life science, testing and financial services. Additional leased facilities would be in a SEZ, hinted the company’s MD.

The company has earmarked $200 million for expansion in infrastructure across all facilities in India.

It has recently added Kochi to its string of centers in India like Chennai, Bangalore, Kolkata, Mumbai, Hyderabad, Pune and Coimbatore.

Cognizant’s revenue mix constitutes of 48 per cent financial services, 23 per cent healthcare and life sciences, 15 per cent from retail, manufacturing and logistics and around 14 per cent from other verticals like new technology and media.

Of these segments, healthcare has demonstrated the highest YoY growth of 87.9 per cent compared to 54.2 per cent in financials services. New verticals have grown by 75.3 per cent. Its testing division is also slated to grow further after achieving a headcount increase to 5000 people from 500 in Q1, 04.

The company is increasing its investments and thrust in geographies like Europe and APAC.

R Chandrasekaran, President and Managing Director, Cognizant said, “Europe has shown a 77 per cent growth in 2006 while in the same year APAC too has grown well. We would increase our attention and investments here besides investing in regional leadership teams in France, Germany and good presence in Switzerland and Holland.”

Cognizant’s revenue guidance for C.Y 2007 is around $2.040 billion that would be based on a 43 per cent growth rate. For the Quarter ending March 2007, it expects to clock $448 million with a 57 per cent YoY growth.

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