Syntel to invest $20 m in Pune

PUNE: Syntel, global provider of software services and consultancy, is investing $20 million on a new facility in Pune. The company’s CFO in India Keshav Murugesh said the company is in the process of finalizing vendors for its 40-acre campus that will be located at the Talwade Software Technology Park.

Construction of the campus is expected to begin the second quarter of 2004. Phase I involves 2,500 seats and an investment of approximately $20 million. He said that the company is also developing another 1,600 seats at interim facilities while this campus was being created.

Syntel reported first quarter revenue earning of $45.1 million, against $44.1 million last year. During the first quarter, Syntel's core focus area of applications outsourcing accounted for 75 percent of total revenue with e-business contributing 19 percent, Teamsourcing contributing five percent and BPO contributing one percent.

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