Andhra Pradesh Government has signed an agreement with HCL Technologies for setting up of Rs 500 crore IT research facility in Vijayawada. The company will invest Rs 500 crore in ten years, for a development centre, training facility and other ancillary facilities.
The company also aims to hire, employ and train 5,000 local residents in the region in two phases. The company will develop its 1st centre at Kesarapalle village in Gannavaram mandal of Krishna district in a total area of 17.86 acres and the 2nd centre in Ainavulu village of Amaravati.
HCL Technologies has reported a rise of 2.97% in its net profit at Rs 1721.14 crore for the quarter ended March 31, 2017 as compared to Rs 1671.51 crore for the same quarter in the previous year. Total income of the company increased by 9.17% at Rs 5345.12 crore for quarter under review as compared to Rs 4896.04 crore for the quarter ended March 31, 2016.