L&T Infotech plans Rs 300 crore capex

L&T Infotech plans Rs 300 crore capex

Mumbai: Larsen and Toubro Infotech (LTIT), the information technology arm of Larsen and Toubro, has embarked upon a Rs 300 crore expansion plan for the fiscal including setting up of four new software development centres.

larsen and toubro infotech l&t "We will be spending Rs 300 crore towards our expansion plans in this fiscal including setting up of four new software development centres", L&T Executive Vice President (IT & Technology Services Division), Devender Nath said on Sunday.

The four new centres to be set in FY-06 would be in Powai, Mahape (Navi Mumbai), Chennai and Bangalore. "The investment will be Rs 80 crore at Powai, Rs 80 crore at Mahape, Rs 50 crore at Chennai and Rs 85 crore at Bangalore", Nath said.

The software development centres would consist of offshore development centres (ODCs) named after the clients wherein employees of L&T Infotech would be working for them.

He added that the expansions have been planned in order to keep space and infrastructure ready for future assignments.

The company is also planning to ramp up its existing workforce by adding atleast another 3,000 people in the fiscal.

"We are planning to hire at least 3,000 people in the current fiscal (2005-2006) including 1,000 people at the Powai facility itself which is due to be completed by June 2006, he said.

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