Date:02/08/2007 URL: http://www.thehindu.com/2007/08/02/stories/2007080254631800.htm

Business

Cognizant steps up investment

Staff Correspondent

Increases Coimbatore SEZ facility size

CHENNAI: Cognizant Technology Solutions Corporation, provider of global IT and business process outsourcing services, plans to make an additional $100 million investment in its infrastructure expansion programme. Earlier, it announced $200 million programme. The expanded construction plan at its new Chennai campus, located in a Special Economic Zone (SEZ), has now doubled in size with over two million sq. ft. of capacity now under construction. Cognizant has also increased the size of the first phase of the planned construction of its SEZ facility in Coimbatore to over 7.25 lakh sq. ft. and is acquiring additional property in Hyderabad and Chennai.

The company’s revenue for the second quarter ended June 30, 2007, increased to $516.5 million, up 12 per cent from $460.3 million in the first quarter, and up 53 per cent from $336.8 million in the second quarter of 2006.