TCS plans Rs 2,300 cr capex for FY12

Country's largest IT software firm Tata Consultancy Services (TCS) has earmarked a capital expenditure of Rs 2,300 crore for 2011-12 financial year.

The company would consider investments or acquisition opportunities in some of the market areas as and when they arise, as per the minutes of AGM filed by TCS to the Bombay Stock Exchange.

Further, IT firm would also consider increasing its market share in Latin America, the Middle East and in Asia, apart from the US and Western Europe.

During the 2010-11, North America contributed 54% to the company's revenue along with significant growth across various geographies including Latin America, West Asia and Africa from India.

Further, the company plans to add around 60,000 manpower during 2011-12. The company does not have problem obtaining visas for its operations.

On the dividend paid to the shareholders, the company said, "The dividend paid by TCS is 36.7 per cent and Infosys is 29.4 per cent."

Currently, the company does not have any plans of listing its shares on any foreign exchange.

At the end of March 2011 company's total employee strength was 198,614 making TCS the largest private sector employer in the country, the management said.

Despite being badly hit during the meltdown, the banking, finance and insurance as a group constituted the largest element of the company's turnover, which still saw growth at 22 per cent in this year and over 2010.

Banking, finance and insurance sector continued to be the largest element of the company's turnover at 47 per cent of the company's total revenues. In 2011, high growth was seen in retail, consumer products, life science and health sectors.

TCS crossed $2 billion quarterly revenue in the second quarter this year.

Significant increase in market capitalisation of $52 billion as compared to $34 billion in the previous year.