Infosys inaugurates new development centre in Visakhapatnam

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IT services company Infosys inaugurated its state-of-the-art development center in Visakhapatnam, Andhra Pradesh. This development center is spread across 83,750 sq. ft. of area and will accommodate 1,000 employees. The Visakhapatnam center is expected to offer greater flexibility to employees to work in hybrid mode and closer to their home, the company said. Further, the center will allow Infosys to attract and train local talent to work on global opportunities through technologies like Cloud and artificial intelligence.

“Aimed at bringing the workspace closer to Infoscions, this center will further our approach towards creating hybrid workplaces and also offer new opportunities to the local talent pool. Visakhapatnam has developed into a favorable investment destination, and we are very grateful to the State Government of Andhra Pradesh for extending their support as we commence our operations here,” said Nilanjan Roy, chief financial officer, Infosys. The center was inaugurated by state chief minister YS Jagan Mohan Reddy in the presence of senior government and company officials.

The Visakhapatnam development center is built in accordance with Infosys’ environmental, social, and governance (ESG) and green building standards, and is efficient in terms of energy and water usage.

Last week, Infosys announced its second-quarter results for FY24. The second largest IT services firm in the country has reported a consolidated revenue of ₹38,994 crore up 7%. The operating margin for the quarter increased sequentially to 21.2%, the company said in a statement.

“Strong H1 performance with significant large deal wins, builds a solid foundation for the future. The growing adoption of our Generative AI offering, Topaz, is helping us deliver consistent value and expand market share,” said Salil Parekh, Infosys’ chief executive officer. Infosys also extended its joint venture collaboration with Singapore-based investment company Temasek for five years.

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