CTS to invest Rs 1,000 crore in 5 years in Chennai, Kovai
The company signed a memorandum of understanding with Tamil Nadu government
By : DC Correspondent
Update: 2015-09-11 06:37 GMT
IT major Cognizant Technology Solutions plans to invest around Rs 1,000 crore over the next five years to expand delivery infrastructure in Chennai and Coimbatore.
The company signed a memorandum of understanding with Tamil Nadu government today on the sidelines of Global Investors Meet.
The company is in the next phase of growth in Tamil Nadu, Lakshmi Narayanan, vice-chairman, Cognizant, said. “We intend to develop world-class global delivery centers in Chennai and Coimbatore.
When complete, the centres will have a capacity to accommodate approximately 17,000-20,000 professionals,” he said.
Cognizant, which was founded in Chennai in 1994, shares a special relationship with Tamil Nadu. In the past 20 years, Cognizant has seen significant growth in Tamil Nadu and globally.
The company has grown its revenue from about $2 million in 1994 to over $10 billion in 2014, and its headcount from about 175 professionals in one delivery centre in Chennai to over 218,000 in over 100 delivery centres worldwide in 2014.