Mumbai, Thursday, Jul 24, 2008: IT service and telecom solutions provider Tech Mahindra plans to invest over 150 million US dollars over the next three years for setting up four development centres across the country.

This was revealed by M&M Group Chairman Anand Mahindra to shareholders during the company's 21st Annual General Meeting of Tech Mahindra on Tuesday.

Tech Mahindra Vice-Chairman, Managing Director and Chief Executive Officer Vineet Nayyar added that the investment would be made to set up centres in Pune, Kolkata, Chandigarh and NOIDA. The first phase of a 9000-seat facility at Pune's Hinjewai SEZ is nearing completion while the other facilities would be ready by the first half of 2009.

He said the NOIDA centre would hold approximately 4000 people while the Kolkata and Chandigarh units would cater to about 3000 people each. These facilities are in addition to the company's centres at NOIDA and Chandigarh and two in Kolkata.

Nayyar revealed that these new centres would be used to accommodate the existing facilities and for the purpose of expansions and added that Tech Mahindra was also looking at acquisitions in the BPO and the Knowledge Process Outsourcing space.

The company is reportedly interested in the telecom space though it would like to ensure that any such buy outs would prove to be a strategic fit to their existing business verticals. Media reports suggested that Tech Mahindra employs nearly 3500 employees in the BPO and KPO verticals.