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Coimbatore's status as a much sought after tier-II location for software services just got a boost. German technology giant Robert Bosch has signed up additional one lakh square feet space to expand its footprint in the textile city.

Traditionally known as the Manchester of the South for its textile mills, Coimbatore is now acquiring a reputation as an emerging hub for software services exports. Exports from the city witnessed a 90% growth at Rs 710.66 crore for the fiscal ended March 2010.

Robert Bosch Engineering and Business Solutions (RBEI), the software development arm of Bosch, which employs 2,700 associates in the city, will invest Rs 80-100 crore for its second phase of expansion. The company, which invested Rs 135 crore in the first phase, will hire 1,500 more associates for the second phase in the Coimbatore Hi-Tech Infrastructure (CHIL) special economic zone, promoted by IndiaLand near the city.

The second phase would be ready for occupation in the third quarter of 2012, centre head, RBEI, Coimbatore, Venugopal R said. RBEI recently inaugurated its reliability testing centre in Coimbatore, built on an investment of around Rs 50 crore. The company, which clocked 20% growth in revenues at its Coimbatore centre, is confident of maintaining the trend in the current year.

Robert Bosch, it is learnt, will use Coimbatore as its second hub, after Bangalore. "Substantial tech work, which Bosch does in India, would be passed on to Coimbatore," sources said.

"With 181 engineering colleges across nine districts affiliated to Anna University, Coimbatore, the region produces 50,000 engineering graduates a year, which makes it very attractive. Software work done in Coimbatore is at least 20% cheaper than in Chennai and with good weather, the city is poised to become the next big destination for the software industry. The main issue which is plaguing faster growth is poor infrastructure," K Purushothaman, regional director, Nasscom, the apex body of software services exporters, said

From SSc-Cbe Forum

Sunday, February 13, 2011

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Monday, February 7, 2011

Friday, February 4, 2011

TVH launches 800 cr township project in Coimbatore

Leading property developer True Value Homes (TVH) has launched a Rs 800 crore residential and integrated township project in Coimbatore, reports The Financial Express. The multifaceted Aurora Township offers premium villas, high-rise residences, malls and shopping centres and 1600-seat, eight-screen multiplexes, the report states quoting the company’s chairman N Ravichandran.

"The residential apartments, Vista Heights, would be built in two phases accommodating about 800 apartments, with one, two, three and four-bedroom units on offer, ranging from 500 square feet to 4,000 square feet," he was quoted in The Financial Express.

Source: The Financial Express

From SSc-cBE Forum

Thursday, February 3, 2011