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|July 4, 1997||
TCS plans Rs 1 billion investment for 1997-98The country's biggest software player, Tata Consultancy Services, has closed 1996-97 with a turnover of Rs 7.2 billion as compared to last fiscal's Rs 5.21 billion.
Software exports amounted to about 75 per cent of turnover while the share of packaged software sales was just over 5 per cent.
S Ramadorai, chief executive officer, TCS, however, declined to mention profit figures as TCS is only a division of Tata Sons.
During 1997-98, it is to invest over Rs 1 billion in growing its activities.
He said investments in technology alone would be about Rs 400 million. TCS' major training centre at Technopark in Thiruvananthapuram, which can train 1,500 people at a time, is to also be started off in a month or so.
TCS is to have "no role" in the proposed joint venture services company planned by IBM and the Tatas.
"We will not tie up with any hardware vendor as the co-existence of various platforms is the rule of the game,"' Ramadorai said.
TCS offices at Bangalore, Hyderabad and Pune have been earmarked as the growth centres for the year.
In Bangalore, where TCS already employs 800 people, a new 45,000 square feet centre is to be ready soon at the International Technology Park at Whitefield.
Overseas, TCS has set its sights on Israel and is hopeful of increasing business from South Africa.
Jayant V Pendharkar, vice president, marketing, TCS, releasing the country's first OLTP-based multi-branch banking application said the banking industry represents the biggest market for the information technology companies.
ISBS has been installed in 560 branches of various banks of the over 2,000 branches that have so far been computerised.
- Compiled from the Indian media
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