Tech Mahindra to invest 1,000 cr on three software units

Tech Mahindra to invest 1,000 cr on three software units

Chandigarh: Mahindra Group’s IT arm Tech Mahindra Wednesday announced it would invest Rs1,000 crore for setting up software development centres in Chandigarh, Noida and Jaipur in the next few years.

“These centres would provide IT and IT-enabled services, besides having software development facilities," company’s Vice Chairman and Managing Director Vineet Nayyar told mediapersons here.

The centres would provide employment to above 15,000 people, he said.

Tech Mahindra has proposed to build software development centre at Rajiv Gandhi Chandigarh Technology Park at an area of 15 acres. The foundation stone of Chandigarh centre was laid here today.

The company has also bought 10 acres of land in Noida SEZ and 15 acres in Jaipur for setting up two more software development centres, he informed.

Tech Mahindra, one of the largest IT services and telecom solutions has posted a turnover of $430 million during first six months of this year. Last year, it posted a total revenue of $648 million.

Talking about the software development centre to be set up in Chandigarh, he said it would involve an outlay of Rs200 crore and would be built in two phases. The centre would seat 2,500 professionals initially and 5,000 after it gets completed.

It would offer video conferencing facilities, training centres, food courts, recreation facilities and a swimming pool, he said.

“We chose Chandigarh for our centre because of its rapidly developing infrastructure, IT friendly policies and access to a pool of high quality software professionals," he said.