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MindTree to develop software development centre in Chennai

Posted: 11 Apr 2006     Print Version  Bookmark and Share

Keywords:MindTree Consulting Pvt. Ltd  software development centre  Bangalore  Chennai and Bhubaneshwar 

MindTree Consulting Pvt. Ltd is planning to establish a software development centre in Chennai, according to a news report in the Hindu Business Line, quoting the company's Chairman Ashok Soota. Soota is reported to have said that MindTree has decided to have not more than three development centres, and that the there would be in Bangalore, Chennai and Bhubaneshwar. In total, the company would have around 25,000 employees across its three centres over the next few years. The new Chennai centre is expected to start operations by end-July 2006.

Presently, MindTree employs a staff of around 3,200. In 2005-06, the company achieved a turnover of Rs.455.33 crore ($102 million). It disclosed that it plans to achieve Rs.1,000 crore in 2006-07, and that it will release its initial public offering sometime this year.

According to MindTree, it is the first company in India to be assessed for IC Rating, through a process developed by Intellectual Capital Sweden AB (ICS). Commenting on the recognition, MindTree Consulting Chairman and Managing Director Ashok Soota said, "MindTree sees optimisation of our Intellectual Capital as a strategic initiative for bringing value to our customers and as a step in our journey for achieving excellence."

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