Business

HCL Technologies To Invest Rs 750 Crore In Andhra Pradesh, Aims Creation Of 7,500 Jobs

JAVED SAIFI | 0
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| October 8 , 2018 , 14:28 IST

Indian technology giant, HCL Technologies has announced on Sunday to invest Rs 750 crore to set up two facilities in Andhra Pradesh.

The investment in the state is aimed to create 7,500 jobs in the next 10 years.

According to an official statement, HCL will set up the facilities in two phases of investments. In the first phase, the company will invest Rs 400 crore to build a Research and Development (R&D) centre in Kesarapalli village in Gannavaram in 8 years.

The R&D centre will accommodate more than 4,000 IT professionals, the company said.

In the second phase of investments, a campus of 20 acres to be built in Rs 350 crore in Amaravati to accommodate about 3,500 IT professionals in five years' time.

Also Read: HCL Surpasses Wipro To Become India’s Third Largest Technology Company

The commencement of phase 1 work is expected on October 8.

Recently, HCL Technologies has become India’s third largest software service company in India after surpassing Wipro, another tech giant. The Company has recorded a $2.05 billion revenue, higher than Wipro's revenue of $2.02 billion.

HCL is expected to grow 8.4 per cent to 10.4 per cent in dollar terms for the financial year 2018-19.