IT Major Cognizant Solutions said it would invest $ 76 million in building new development centers in India in 2005 and 2006, that includes $ 28.7 million for a center in Bangalore to house 2,250 software professionals.
CEO Lakshmi Narayanan also said that the IT Major has set sights on acquisitions of firms in the open source: reportedly, the high end Business Process Outsourcing (BPO), Banking and Finance and Insurance areas. Cognizant Solutions will also build new centers in Hyderabad, Pune, Chennai and Kolkata that would totally house over 9,000 BPO professionals, Cognizant President and CEO Lakshmi Narayanan told reporters in Bangalore.
The US-headquartered Cognizant has nearly 90 per cent of its 15,300 employees in India and plans to hire 7,200 people in 2005, of which 60 per cent of them from college campuses.It aims to touch a total strength of 22,500 by December 2005, he said. Salaries for programmers in India were rising at double digits while in its Europe and US centers, it was less than five per cent, Narayanan said, adding, there was a demand for people with four to five years experience, who commanded a higher premium. Cognizant's revenue in 2004 was $ 586.7 million and expects it to increase to $ 845 million in 2005.
CEO Lakshmi Narayanan also said that the IT Major has set sights on acquisitions of firms in the open source: reportedly, the high end Business Process Outsourcing (BPO), Banking and Finance and Insurance areas. Cognizant Solutions will also build new centers in Hyderabad, Pune, Chennai and Kolkata that would totally house over 9,000 BPO professionals, Cognizant President and CEO Lakshmi Narayanan told reporters in Bangalore.
The US-headquartered Cognizant has nearly 90 per cent of its 15,300 employees in India and plans to hire 7,200 people in 2005, of which 60 per cent of them from college campuses.It aims to touch a total strength of 22,500 by December 2005, he said. Salaries for programmers in India were rising at double digits while in its Europe and US centers, it was less than five per cent, Narayanan said, adding, there was a demand for people with four to five years experience, who commanded a higher premium. Cognizant's revenue in 2004 was $ 586.7 million and expects it to increase to $ 845 million in 2005.
Priyanka. S
