By IANS
Hyderabad : Genpact, a global provider of high-quality business and technology services, Friday signed a deal with the Andhra Pradesh government to expand its operations in Hyderabad by setting up its third state-of-the-art campus with an investment of Rs.1.21 billion.
Genpact, India's largest business process outsourcing (BPO) firm, will construct a million square feet IT/ITES (IT-enabled services) space on about 50 acres of land at Jawahar Nagar in Ranga Reddy district on the city's outskirts.
The company promised to create 5,000 jobs in the next five years at the proposed campus. It also plans to develop the area as IT/ITES Special Economic Zone for its own use.
A memorandum of understanding (MoU) was signed between Shailendra Kumar Joshi, secretary, IT and communications department and Ashok Tiyagi, senior vice president, Genpact, in the presence of minister for information technology R. Damodar Reddy.
The IT ministe told newsmen that the government has allotted 50 acres of land to Genpact at a cost of Rs.5 million per acre. "Over the past few years, Genpact has contributed significantly to the IT development in the state and we are happy to extend this association further," Reddy said.
The minister hoped that Genpact would act as a catalyst for other IT companies to invest in the state and contribute to the government's plans to create 250,000 jobs in IT sector in the next two years.
The state government in 1999 had allotted 26 acres of land in Uppal to the company, which developed a 500,000 square feet facility and invested Rs.2.76 billion.
Genpact, which also has its operations in Hitec City, employs 8,000 people at both the facilities and plans to add another 5,000 in five years. The company's turnover from Hyderabad was Rs.6.79 billion in the last fiscal (2006-07).
The facilities provide diverse specialised services in IT infrastructure management, enterprise applications, procurement and supply chain services, finance and accounting services and customer services to Genpact clients across the world.
"We see Hyderabad providing a huge opportunity for the Indian ITES sector. We will continue to invest in Hyderabad and generate employment for people in the state," said Tiyagi.
Genpact provides business services and technology solutions for General Electric (GE) Inc. and more than two dozen other global corporations.
With 30,000 employees in 25 centres across the world, Genpact's annual turnover is $613 million.
In India, the company has operations in Gurgaon, Delhi, Jaipur, Bangalore, Kolkata, Hyderabad and Bhubneshwar.