Comviva to hire 600 engineers by July 2022, eyes 10-12% business growth

Tech Mahindra group firm Comviva plans to hire around 600 engineers by July 2022, to meet growth requirements and to offset the impact of attrition, a top official of the company said.

The company is now focussing on tier 2 cities and is now expanding the Bhubaneswar center, which was opened 3 years back, as part of its new strategy, Comviva CEO Manoranjan Mohapatra told PTI in an interview.

"We are a team of about 2,000 members. We are talking about adding 600 people on a yearly basis. About 300 would be campus freshers and another 200-300 would be market hires," he said.

The company has seen attrition rates rising to around 20-23 per cent in the last few quarters, from 15-16 per cent in the past.

Mohapatra said the company plans to finish hiring around 600 people by July 2022, and continue to hire further to scale up the team in Bhubaneswar.

"We are right now less than 20 people in Bhubaneswar but this year plans are getting finalized. We have initiated the hiring and expect it to complete by March 31, 2022.

"In the current fiscal year, there would be about 60-70 people there, but in about two years, the center will have 200-300 people. It will depend on how easy it is to get talent," he said.

Talking about revenue growth, he said that the company expects to grow by 10-12 per cent in the current financial year. Comviva had recorded revenue of Rs 845.1 crore in the financial year 2021.

Comviva's major focus remains around providing IT solutions for mobile devices based applications and technologies.

The company is planning to set up a center of excellence for mobile devices in Bhubaneswar.

"We will be doing all our mobile payments, the super app, merchant app, consumer app, self-care app, everything we do with respect to apps in the next 18-24 months. Bhubaneswar will be known as the center of excellence for the mobile applications," Mohapatra said.

He said that the company's next generation activity would be all around the mobile devices including writing software for wearables that will enable payment transaction from smartwatch.

"You can make a merchant payment or transfer money to your family from your watch itself. You don't have to go to your laptop or phone. That is one area we have picked for Bhubaneswar and second area -- mobile money, digital banking -- the growth is expected to be large.

"We have decided to make that also the second area of competency in Bhubaneswar," Mohapatra said.