TCS launches Synergy Park in Hyderabad

HYDERABAD: The slowdown in the U.S. economy has to be watched while concentrating on core competencies. This was revealed by S. Ramadorai, CEO, TCS, during a press conference in connection with the launch of the company’s Synergy Park here on Monday, the second Global Delivery Centre (GDC) and the largest facility of TCS in the city.

S. Mahalingam, CFO, however, maintained that there was no slowdown in decision-making. Mr. Ramadorai said there was definitely a problem in the U.S. in terms of its economy and one had to wait and see while concentrating on core competencies.

Stating that TCS was on a growth mode, the CEO said the company made recruitment offers for about 22,000 people for 2008-09 and had not made any reduction in campus recruitments. He described as “untrue” the reports that 500 employees were asked to leave. Media “bunched it up” with regard to what had happened over a period of 11 months based on their performance. When compared with the employees base of 1.08 lakh the figure was “insignificant”.

Stressing the need to focus on organic growth, he said the acquisition of an asset would not be based on rupee-dollar parity but on the value it can create for the company. He said the salaries in the IT sector would stabilise in future, depending on the capabilities of the employees and how much of that would translate into real growth.

He said TCS was in favour of continuing the Software Technology Parks of India scheme.

Built over an area of 50 acres, the Rs. 750-crore Synergy Park has a potential for 8,000 people. While the first phase, established at a cost of Rs. 250-crore, became operational on Monday, construction of the next phase would begin in April this year. The Park is an approved special economic zone (SEZ) and will serve global TCS customers in various segments with focus on technology areas such as enterprise solutions and IT services.

Mr. Ramadorai described Andhra Pradesh as one of the preferred destinations with Nasscom rating Hyderabad as number one among super nine IT destinations.