Infinite To Invest Rs 20 Cr In Bangalore Facility
ICS is setting up a six-acre campus at Whitefield near Bangalore. The company expects to ramp up its headcount in India to over 2,000 by the end of calendar 2006. It is also looking at the acquisition route to enter the business process outsourcing (BPO) business and is expected to announce an acquistion in India soon.
ICS, which has subsidiaries in the US and Singapore, plans to invest Rs 20 crore in the new facility at Whitefield, the company’s chief operating officer Upinder Zutshi told eFE. He said that the facility is expected to be be functional by March 2004.
“The company now plans to hire 600 professionals for its Bangalore facility and take the total strength there to 1,250 by March 2004,” Mr Jutshi said. The company employs more than 1,000 employees including around 700 people in the US and the remaining in India with a few employees in Singapore.
“We are also considering the takeover route to enter the BPO space,” he said adding, “An announcement in this direction is expected soon.”
In the domestic market, ICS plans to focus on the banking, financial services and insurance (BFSI) sectors.
Giving the reason behind the move to explore the domestic market, Mr Zutshi said that the financial sector in the country was growing rapidly. “The company plans to offer its expertise in the areas of data-warehousing, production support, e-business product development and web-enablement of legacy applications,” he added.
ICS is targeting a gross revenue of Rs 335 crore by end of fiscal year 2003-04, projecting a growth of over 35 per cent over the preceding year’s revenue of Rs 250 crore.
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