Wipro on an expansion drive: Looks at new verticals

Wipro on an expansion drive: Looks at new verticals

Wipro is keen on breaking its shackles and establishing a presence in new regions. This, of course, means expansion of not just existing facilities and special economic zones, but new verticals as well. CNBC-TV18’s Kritika Saxena reports.

Expansion—that's the buzz word driving the Wipro dynamo these days. While it is looking to expand into new verticals like hospitality, pharma and insurance, it is also keen on a bigger footprint in existing verticals, and also a presence in newer geographies.

For this last bit, it has earmarked about Rs 200 crore this year and special economic zones are high on the agenda.

Suresh Senapathy, Chief Financial Officer, Wipro, said, “All new investments that we are making are in special economic zones. That has been our approach for the last several years and that is what we will do going forward. So every new location that we are building on will be in SEZs. So that is the clear mantra that we will be looking at as far as our IT business is concerned.”

The plan is to set up shop on recently-acquired land in new cities like Rajasthan and Cochin. Wipro will build infrastructure at these sites, and developed them into a technological base.

“States, if you look at, we are sort of having land where we need to be building, in terms of Rajasthan, in greater Noida, we have Cochin as well as Coimbatore. We are still about to start building in some of those places,” Senapathy said.

And this expansion, of course, means that Wipro will soon go on a hiring spree to staff the new centres. This expansion plan does not leave out existing facilities in Pune, Nagpur, Hyderabad and Bangalore. These will also be given their due, and will see expansion-oriented investments.

Ref: http://www.moneycontrol.com/news/cnbc-tv18-comments/wipro-onexpansion-drive-looks-at-new-verticals_430433.html