Cyient, a global engineering and technology solutions company, today announced the opening of its new Development Center in Warangal. The center will be inaugurated on January 07, 2020 by Mr. K. T. Rama Rao, Hon'ble Minister for IT, Municipal Administration & Urban Development, Industries, and Commerce, Government of Telangana in the presence of Mr. BVR Mohan Reddy, Founder and Executive Chairman, Cyient and Mr. Krishna Bodanapu, Managing Director & CEO, Cyient and other senior officials of the company.
Cyient's development center is the largest in Warangal and will serve as a showcase for this culturally rich city to attract more IT investments. Cyient had already taken the lead in Warangal by setting up its incubation center back in 2016. The company currently employs 200 engineers in its center and will be hiring 600 more in a phased manner with most of the talent being sourced locally.
The new state-of-the-art facility can accommodate 600 Cyient engineers on a total built-up area of around 60,000 sq. ft. The company is also constructing a second tower to accommodate an additional 200 engineers.
Commenting on the development, Mr. Krishna Bodanapu, Managing Director & CEO, Cyient said, "We are delighted to expand our footprint in Warangal, a city that has a rapidly evolving talent ecosystem. With the strong momentum and growth in our Communications business, we look forward to leveraging our presence here to support customers globally while delivering on our commitment to support inclusive growth in our local communities."
"We also look forward to partnering with the Government to help realize the 'Digital Telangana' vision by providing our technical expertise in extending high-speed broadband connectivity for rural areas through T-Fiber initiative" he added.
Cyient's Warangal Development Center supports telecom customers globally with plan & design and engineering services for their mobile and fixed-line networks. The company works with several of the largest communications service providers in the US, Europe and Asia-Pacific region helping them accelerate the deployment of SG networks, expand fiber-to-the-home coverage and implement digital solutions to enhance customer experience.
Shares of Cyient Limited was last trading in BSE at Rs.423.1 as compared to the previous close of Rs. 435.4. The total number of shares traded during the day was 5044 in over 598 trades.
The stock hit an intraday high of Rs. 440 and intraday low of 418.1. The net turnover during the day was Rs. 2145337.