KPIT Cummins to complete phase-II by August 2006

KPIT Cummins Infosystems will complete its second phase of expansion at the Hinjawadi Software Technology Park of India (STPI) by August 2006. The IT manufacturing and advanced technology solutions provider, which is also interested in acquiring land under STPI's phase-III, will add 2,500 people to its existing workforce.

"We are investing around $10 million in the second phase of development and are pursuing it on a war footing. We also plan to increase our headcount, once the second building is completed. We will add another 2,500 employees," Ravi Pandit, chairman and group chief executive officer, KPIT Cummins told Business Standard.

At present, the company has 1,800 employees working from its first building and the addition of employees would take the total headcount to 4,300.

The second phase, work on which began in July this year, will have around 2.05 lakh sq ft of area after completion. The project was funded through internal accruals and a long-term debt from International Finance Corporation. KPIT Cummins would also look at participating in the third phase of Rajiv Gandhi STPI when the government calls for bids.

The IT manufacturing and advanced technology solutions provider is looking at opening centres in three other locations in the city. Pandit, however, did not give further details.

The company is looking at becoming a $100 million company. It plans to become the first choice vendor of at least five of its global customers.

The company is also expecting a 30 per cent growth in this fiscal, with its size expected to cross $73 million from the $57 million posted last year, while its focus will continue to be a mixture of IT and business process outsourcing (BPO) services.