Infotech posts 84 per cent rise in net profits

To setup second campus in Hyderabad

Infotech Enterprises Limited, a GIS, Engineering design and Information technology service provider will be investing Rs. 64 crores as capital expenditure in 2006-07 including the setting up of a second campus in Hyderabad at an estimated cost of Rs. 30 crore. The company which announced its results for 2005-06 on Wednesday said that the board had recommended a stock split of a Rs.10 share subdivided into two shares Rs. 5 each and a bonus issue of 2:1. The company posted a net profit of Rs. 30.3 crores up by 84 per cent while revenues rose by 41 per cent. The important landmarks towards the close of the year exceeding Rs. 100 crore in quarterly revenues in Q4 and Rs. 50 crore in net profit during 2005-06.

Chairman and Managing Director of Infotech Enterprises BVR Mohan Reddy said that the first phase of the new campus to be setup at Nanakramguda in Hyderabad would be completed by April next year and would be spread over one lakh sq.feet. The 10-acre land in which the campus will come up will also facilitate training and residential facilities for its employees.

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