IT major Cognizant to embark on major expansion programme

IT major Cognizant Technology Solutions is planning a major expansion programme in various cities at a budgeted US $285 million on the back of a 40% growth rate over last year, a top official said today.

The expansion programme will be in the form of real estate and upgrading/updating/introducing technology, company president and managing director R Chandrasekaran said.

Talking to Press Trust of India, he said the entire expansion programme will culminate in the calender year 2013 or 2014.

The expansion would be in cities including Chennai, Coimbatore, Kolkata, Pune, Bangalore and Hyderabad. "I cannot rule the possibility of including other cities while expanding."

The company had recorded a 40% growth rate over the previous year and this year it would be a minium of 26%, he said.

In 2010 calender year total revenue was $4.6 billion, 40% more than the performance in 2009.

The company was embarking on a globalisation programme as a continuous process and the recruitment drive along with campus interviews in leading higher education institutes would continue, he said.