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HCL Technologies expands its presence in Sri Lanka, opens new facility

IBEF:  November 26, 2021

HCL Technologies (HCL) inaugurated its new facility at the state-of-the-art Cinnamon Life complex in Sri Lanka and this new facility will be its largest in the country, accommodating 4,000 employees.

According to the company's press statement, HCL Technologies (HCL) had entered Sri Lanka in 2020 with the objective to make it a global technology and IT services delivery hub for some of the largest corporations in the world. Presently, HCL intends to occupy 80% of Cinnamon Life, a project by John Keels, with proposals of taking up 10 floors now and 10 floors at a later stage.

The architectural design and interiors of HCL's new development centre has been provided by Tikri Bibile Associates (TBA), supported by WIDAC Commercial Interiors and Leema Associates. From this latest development HCL will deliver IT services to global clients in the areas of digital applications and system integration services, product development and support, and infrastructure management services including digital workplace solutions.

HCL Technologies registered 1.7% rise in consolidated net profit to Rs. 3,259 crore (US$ 437.60 million) on a 2.9% growth in revenue from operations to Rs. 20,655 crore (US$ 2.77 billion) in Q2FY22 over Q1FY22.

Shares of the HCL Technologies soared 0.92% to Rs. 1,130 (US$ 15.17) on BSE. The firm is a leading global IT services company and positioned among the top four Indian IT services companies in terms of revenues. The company has concentrated on 'transformational outsourcing', and offers integrated portfolio of services, including software-led IT solutions, remote infrastructure management, engineering and R&D services, and BPO services. It leverages its extensive global offshore infrastructure and network of offices in 50 countries to provide multi-service delivery in key industry verticals, including manufacturing, financial services, media, telecommunication, healthcare, technology and public services, among others.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.