Happiest Minds Tech gains on announcing expansion of Noida campus

Happiest Minds Technologies rose 2.88% to Rs 1078 after the company announced the expansion of its Noida facility ("Smiles 5") increasing its delivery capacity and leveraging the area's diverse high-technology talent pool.

With the additional facility, the company said it would have a capacity of 450 in the NCR region.

This launch closely follows the announcement of Happiest Minds' new office space acquisition in Bengaluru of a grade A 1,600-seater property in July this year and also an expansion in newer locations like Bhubaneswar planned later this year.

Venkatraman Narayanan, MD & CFO, Happiest Minds Technologies said, "NCR is a digital hub with a strong eco-system of vibrant start-ups, successful enterprises, and education hubs which makes it an important talent source for us while dovetailing nicely well with our overall growth strategy."

Happiest Minds' Technologies is an IT company, enabling digital transformation for enterprises and technology providers by delivering seamless customer experiences, business efficiency and actionable insights.

Happiest Minds Technologies' net profit rose 8.1% to Rs 56.34 crore while net sales gained 9.4% to Rs 328.92 crore in Q1 FY23 over Q4 FY22.

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