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Infosys to Start New Campus in Shanghai
May 21, 2011 (02:05 PM EDT)
Plans an Investment of US $ 125-150 Million
SHANGHAI, May 21, 2011 /PRNewswire-FirstCall/ -- Infosys Technologies Ltd. (Infosys) today laid the foundation stone for its new campus at Zizhu Science and Technology Park in Shanghai, China. Infosys plans to invest between US$125-150 million in the new campus, one of the largest investments in China by a software company. Mr. N. R. Narayana Murthy, Chief Mentor and Chairman of the Board, Infosys, Mr. T.V. Mohandas Pai, Member of the Board, Infosys, Dr. S. Jaishankar, Ambassador of India to China and Mr. Rangarajan Vellamore, Chief Executive Officer, Infosys Technologies (China) Co., Ltd. were present at the ceremony.
The new Shanghai campus will be spread over 15 acres and developed over a period of 3 years. With an overall seating capacity for 8000 employees, the campus will have state of the art facilities for software development, labs, data centres, training facilities, food courts, a 1500 seater auditorium, gym, and other recreational facilities. The Shanghai campus will be the largest overseas software development centre of Infosys adhering to the highest environmental standards.
Speaking at the ceremony, Mr. N. R. Narayana Murthy, said, "I would like to thank the Shanghai Municipal Government and the Chinese Government for their support in starting this project. As the second largest economy in the world, China will lead the world in economic growth in the future and we see exciting times ahead. This large investment is a testimony to Infosys' commitment to China. As a global company with a presence in over 75 countries, we will use our enhanced capacity here to deliver high quality consulting and software services to the global markets as well as to our clients in China."
Rangarajan Vellamore, CEO, Infosys Technologies (China) Co., Ltd, said, "We have been in China for the past 7 years and have created a high quality capability to address the global and local markets. We have invested heavily in technology, training and people to derive a strategic advantage in our capabilities. With this large investment and enhanced capability we will aim to lead service capability out of China to the global and local markets for business transformation and operations. When this campus is completed we expect to have over 10,000 employees in Shanghai alone."
Infosys China was incorporated in 2004 and had revenues of over US $ 78 million in fiscal year 2011. The company has invested in world class development centers in Shanghai Pudong Zhangjiang HiTech Park, Hangzhou Binjiang HiTech Park, Beijing China Oversea Plaza, a sales office in Hong Kong and a global education center in Jiaxing Science city. Infosys China employs over 3300 people in China and has already invested US $ 23 million in capital and has office space for 4200 people in China.
About Infosys Technologies Ltd
Many of the world's most successful organizations rely on the 130,000 people of Infosys to deliver measurable business value. Infosys provides business consulting, technology, engineering and outsourcing services to help clients in over 30 countries build tomorrow's enterprise.
For more information about Infosys (NASDAQ: INFY), visit http://www.infosys.com
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, and unauthorized use of our intellectual property and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2011 and on Form 6-K for the quarters ended June 30, 2010, September 30, 2010 and December 31, 2010.These filings are available at http://www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company's filings with the Securities and Exchange Commission and our reports to shareholders. The company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the company.
For further information please contact: China Jenny Hu Infosys China Jenny_Hu@infosys.com The Americas Asia Pacific Peter McLaughlin Priyanka Waghre Infosys Technologies Ltd, US Infosys Technologies Ltd, India Phone: +1-213-622-4949, Ext 206 Phone: +91-80-2852-0261 ext64999 Peter_McLaughlin@infosys.com Priyanka_Waghre@infosys.com Australia EMEA Cristin Balog Antonia Maneta Infosys Technologies Ltd, Australia Infosys Technologies Ltd, UK Phone : +61-3-9860-2277 Phone: +44(0)207-715-3499 Cristin_Balog@infosys.com Antonia_Maneta@infosys.com
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