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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