L&T Infotech ups center in B'lore

BANGALORE: L&T laid the foundation for its largest state-of-art IT development center in the country in Bangalore, with a built-up area of 19,238 sq meters. The company has IT development centers in Mumbai, Pune, Chennai and Bangalore and wants to expand its presence in India's IT capital.

Briefing the press, L&T CMD, AM Naik said, "In the first phase of the project spanning 15 months, we will make an investment of Rs 55 crore. On completion of the center, we hope to house around 3,000 employees." The total value of the investment into the IT campus, which is spread across 4.87 hectare, is around Rs 150 crore.

L&T Infotech already has around 400 employees working in two separate units in Bangalore, who would be transferred to the new campus in 2006. The company earned Rs 350 crore last year and is aiming to acheive a target of Rs 650 crore -Rs 700 crore this fiscal. Naik also informed that the company would increase its IT headcount from the current 3,200 to 5,000 in 18 months. Around 95 percent of the company's revenues come from IT exports.

"We want to create more value in the company and need to make L&T strong. Our new, integrated center will bolster our capacity to offer high-value services to our expanding customer base and reinforce our presence in Bangalore," he said.

Naik added that the company is looking at repositioning its focus on hi-tech, engineering and IT services. He also informed that the company was on the lookout to acquire IT companies in the ERP and financial service domains. The company would also open new centers in Chennai and Mumbai soon.

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