UPDATE 1-Satyam sees $75 mln rev from 3-yr Nestle contract
(Changes dateline from MUMBAI, adds contract value)
BANGALORE, June 25 (Reuters) - Indian software services firm Satyam Computer Services Ltd. (SATY.BO) said on Monday its contract with Nestle (NESN.VX) had been extended by three years, and it saw cumulative revenue of $75 million from the deal.
"The revenue is already flowing in. We expect this to continue and grow in the quarters to come," Subu D. Subramanian, director and senior vice-president of manufacturing and automotive practice at Satyam, said.
New York-listed Satyam (SAY.N), which specialises in business software, said it would provide services ranging from software development, maintenance and support to infrastructure management.
As a result of this agreement, the number of Satyam consultants working for Nestle is expected to grow close to 500 over the next year from about 350 now, it said.
Satyam, India's fourth-largest software services exporters, had signed the first contract in 2005.
At 2:30 p.m. (0900 GMT), shares in Satyam, whose leading customers include General Electric (GE.N) and Qantas Airways Ltd. (QAN.AX), were down 2.14 percent at 451.90 rupees in a Mumbai market .BSESN that was down 0.12 percent.
((Reporting by Sumeet Chatterjee, editing by Ranjit Gangadharan; Reuters Messaging: himangshu.watts.reuters.com@reuters.net +91 22 6636 9030)) Keywords: SATYAM NESTLE/
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