- Shri. Salman Khurshid, Hon’ble Minister of Corporate Affairs presides over the commencement of its SEZ
- Tech Mahindra celebrates its one year anniversary following acquisition
Hyderabad, India, 13 April, 2010: Tech Mahindra, the brand name of Satyam Computer Services Ltd. (NYSE:SAY), a leading global consulting and IT services provider, today announced the commencement of its SEZ at the Mahindra Satyam Infocity Campus at Hyderabad. Shri. Salman Khurshid, Hon'ble Minister of Corporate Affairs, Government of India was the Chief Guest and graced the occasion
Present on the occasion were Mr. Anand Mahindra, Vice-Chairman and Managing Director of the Mahindra Group, Mr. Vineet Nayyar, Chairman, Tech Mahindra and Mr. CP Gurnani, CEO, Tech Mahindra.
"The commencement of the Tech Mahindra IT SEZ in Hyderabad is a significant milestone for the company. It showcases the resurgence of Mahindra Satyam through sheer grit, determination and hard work of its associates. We have been closely monitoring the company and are happy with the progress that it has made, governed by the impeccable values and ethics of the Mahindra Group," said Shri. Salman Khurshid, Hon' ble Minister of the Corporate Affairs, Government of India.
The SEZ is spread across 26 acres, will have a built up area of 400000 square feet upon which construction has already begun. The first phase of the campus will be ready for occupation within the next 6 months and will seat around5,000 associates.
Speaking on this momentous occasion, Mr. Anand Mahindra, Vice-Chairman and Managing Director of the Mahindra & Mahindra Group said, "From this day, last year, we have come a long way in our efforts to re-establish our position in the Indian IT landscape. It makes us all proud that we are on course to achieve what we had set out to do and I believe that it has been possible only with the dedicated efforts of the associates, support from their families."
The SEZ inauguration comes amidst the one year celebration of the Tech Mahindra take-over by Venture Bay Pvt. Ltd, the Tech Mahindra subsidiary. Both the Tech Mahindra and the Tech Mahindra campuses celebrated 'a year of collaboration' of minds, hearts, competencies and vision. Shri. Salman Khurshid and Mr. Anand Mahindra addressed the associates at the Infocity campus, and shared their appreciation for their hard work and the vision for the future ahead in the presence of Shri R.Bandyopadhyay, Secretary to the Government of India, Ministry of Corporate Affairs.
Sharing the management's views on the progress made, CP Gurnani, CEO, Tech Mahindra said, "The journey for us has just begun and we are keen to make Tech Mahindra the world's most valued Information, Communication and Technology (ICT) firm. We are through with the stabilization phase and are poised on a substantial growth trajectory. I am confident that we will succeed in achieving our goals and our objectives. I would like to take this opportunity to thank our customers for having stood by Tech Mahindra during the trying times."
About Tech Mahindra
Mahindra Satyam is a leading global business and information technology services company that leverages deep industry and functional expertise, leading technology practices, and an advanced, global delivery model to help clients transform their highest-value business processes and improve their business performance.
company's professionals excel in enterprise solutions, supply chain management, client relationship management, business intelligence, business process quality, engineering and product lifecycle management, and infrastructure services, among other key capabilities.
Mahindra Satyam is part of the $11.1 billion Mahindra Group, a global industrial federation of companies and one of the top 10 business houses based in India. The Group's interests span automotive products, aviation, components, farm equipment, financial services, hospitality, information technology, logistics, real estate and retail.
Mahindra Satyam IMS is a leader in offering innovative and transformational infrastructure services to enterprises helping them build and manage their IT infrastructure more efficiently and effectively.
Mahindra Satyam development and delivery centers in the US, Canada, Brazil, the UK, Hungary, Egypt, UAE, India, China, Malaysia, Singapore, and Australia serve numerous clients, including many Fortune 500 organizations.
For more information, see www.mahindrasatyam.com
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those reflected in the forward-looking statements. Tech Mahindra undertakes no duty to update any forward-looking statements.