July 29, 2018 / 11:50 AM / 10 months ago

Infosys to build software development centre in northern India

MUMBAI, July 29 (Reuters) - Indian IT giant Infosys Ltd said on Sunday it would build a software development centre in Noida in the northern state of Uttar Pradesh, with an initial investment of about 7.5 billion rupees ($109 million).

India’s second-biggest software services exporter said the 2.7 million square feet facility would be able to accommodate 5,000 staff.

“The facility is a critical part of our effort to enhance our presence in the national capital region and leverage the talent pool available in this market,” Chief Executive Officer Salil Parekh said in a statement.

The national capital region is a rapidly urbanising area that encompasses New Delhi and its suburbs and is one third the size of New York state, but houses 2.5 times more people. Noida is about 26 kilometres (16 miles) from New Delhi.

This month Infosys retained its 6 to 8 percent revenue growth outlook for the fiscal year to March, with Parekh making upbeat comments about demand for the company’s services in key markets the United States and Europe.

$1 = 68.6000 Indian rupees Reporting by Abhirup Roy; Editing by Susan Fenton

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