Infosys to open center in Mexico

BANGALORE: IT major Infosys, intends to open a development center in Mexico soon. Announcing this at the company’s Q4 earnings media briefing, SD Shibulal, member of the board and head-world wide customer sales and delivery said that the center would be ready by second quarter next year and would initially seat 300 people. “This center will serve as a nearshore center to serve our US customers since it is in the same time zone and offers multi-language capabilities. We are not looking at the local market,” he said

Infy plans to pump in $2 million into the company. Meanwhile, the company is hoping better performance from its subsidiaries in the next fiscal. Infosys BPO did revenues of Rs 662 crore in FY07 and is expected to touch Rs 934 crore in FY08.

The company’s Australia subsidiary recorded a turnover of Rs 445 crore and a net income of Rs 70 crore. Infosys Consulting and China operations continue to be in the investment phase and hence are still in the red, with the former recording turnover of Rs 213 crore and a net loss of Rs 110 crore; while Infosys China did Rs 66 crore worth of business with a net loss of Rs 30 crore.

While the Rupee appreciated by 1.7 per cent this year, the company said that it did impact its margins thanks to marked to market hedging; increased utilization rates and SG&A savings.

Meanwhile, Infosys is looking at adding 25,000 people to its employee base for the year 2007-08.

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