Symphony Services to expand Indian centers

BANGALORE: Product engineering services provider Symphony

Services today announced that it intends to expand its centers in Bangalore,

Pune and Mumbai. Addressing a press briefing at the company's new facility in

Bangalore, Gordon Brooks, CEO and president, Symphony Services said that a lot

of innovative development is happening at the Indian centers. “Currently, we

have 240 products under management for over 70 large customers and emerging

companies in our Pune, Mumbai and Bangalore centers.” The company's primary

areas of focus are outsourced product development services and analytics. It is

also getting into the realm of product re-engineering.

The company has over 3000 employees in India and plans to expand the

headcount. However company officials were unwilling to reveal the expected

headcount. The company plans to double its existing capacity in Pune. Brooks

said that the company had initially planned an investment outlay of $100 million

in 2004 when it entered India. Since then, it has increased this investment to

$150 million because of the rapid expansion in India.

On the concern over increasing wages in the industry, Ajay Kela, the company's

COO and MD, said that the company's wage inflation was around 11 per cent and

was not an issue. “The 11 per cent increase includes promotions. This is

something that is not spoken about much in the whole salary increase issue. He

also said that besides India, the company would consider China as an offshore

destination in a couple of years. “We many have ten per cent of our people in

China.”

Brooks said that the company has clocked CAGR of around 170 per cent over the

last three years.

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