Mastek earmarks Rs 300cr for Chennai campus

Mastek has chalked out a Rs 300-crore investment plan for the next five years to build its software development campus in Chennai, which would be its third location after Mumbai and Pune in the country.

The proposed Chennai campus would have capacity for about 5000 people.

The company has already bought 17 acres of land in Mahindra City, a special economic zone near Chennai and the first phase of the facility was expected to be ready by 2008, K Nagarajan, VP, Chennai development centre, Mastek, said.

The campus in Mahindra City would have four development facilities with each having a capacity for about 1000 people.

The expansion in Chennai comes on the back of expected growth in customer acquistions in the insurance segmemt in the US and UK, he said adding that Chennai would be the engine of growth in its chosen insurance and mainframe capability areas. 

The company, which focuses on insurance, financial services and government, reported a turnover of $156 million  and a net profit of $15.3 million  for the year.