Mindtree to expand presence in US market

Written by PTI | Bangalore | Updated: Jan 29 2014, 19:50pm hrs
Mid-sized IT services firm Mindtree will expand its presence in the US market by opening two more delivery centres and hiring 400 professionals to meet increasing client demand.

The Bangalore-based firm has a delivery centre in Gainesville, Florida in the US, which has about 120 employees catering to around 10 clients. The centre became operational about 18 months back.

"We will open two more delivery centres in the US and will hire about 400 people there in the next 2-3 years. These will be local hires," Mindtree CEO and Managing Director Krishnakumar Natarajan told reporters here.

On the west coast in the US, the company is scouting for locations and will take a call on it in the next 2-3 months, he added.

Mindtree is also looking for locations in the mid-west area in Michigan and Ohio and will decide on the place in the second half of this year, Natarajan said.

On the issue of the US Immigration bill and the company's plans to hire in the US, he said: "This is not because of the immigration issue, but because we want to increase our client facing capabilities."

The US accounts for the largest share of Mindtree's revenues at 55.8 per cent as of December 31, 2013, followed by Europe (30.2 per cent), India (6.3 per cent) and Rest of World (7.8 per cent).

The firm had reported a 10.4 per cent fall in consolidated net profit at Rs 88.5 crore for the third quarter ended December 31 against Rs 98.8 crore in the year-ago period on account of forex losses.

Consolidated revenues of the company rose by 34 per cent to Rs 790.6 crore in the October-December of this fiscal from Rs 590.1 crore in the same quarter of 2012-13 fiscal.

With a gross addition of 397 employees in the December 2013 quarter, its total headcount stood at 12,992 people.