Patni Plans Rs 230 Cr Centre

Mumbai | Updated: Apr 22 2004, 05:30am hrs
IT services company Patni Computer Systems plans to invest Rs 230 crore in its software development facility to be set up in Airoli, near Navi Mumbai. Patni chief financial officer Deepak Sogani said that the upcoming facility has the capacity to house 17,000 professionals and in the first phase which is expected to be completed early next year, it will house 5000.

The company currently has delivery centres in Navi Mumbai, Pune, Chennai, Gandhinagar and Noida apart from Mumbai. The centre in Navi Mumbai functions as a development centre for GE, a SBU (strategic business unit) for insurance services and enterprise application solutions.

The current employee strength of the company stands at 2100 in Mumbai and close to 2,400 people at its Navi Mumbai centre. The upcoming centre will be utilised over a period of time and would be deployed for new business initiatives, Mr Sogani said.

Commenting on the impact of the appreciating rupee, he indicated that the company had taken a forward cover of $100 million for the current year.

Furthermore, the company expects to maintain a good revenue momentum in the upcoming quarterly results.

Other plans of the company include setting up an additional centre in Chennai, and possibly another in Bangalore in 2005.

The company had posted a 34 per cent rise in its turnover of Rs 321.2 crore for the fourth quarter ended December 2003.