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Cyient inaugurates its state-of-the-art Development Center in Warangal

Posted On: 2020-01-08 09:22:25

Mr. K.T. Rama Rao, Hon'ble Minister for IT, Municipal Administration & Urban Development, Industries, and Commerce, Government of Telangana inaugurated the state of the art 60,000 sq. ft. Development Center of Cyient, a global engineering and technology solutions company, in Warangal today. State ministers Mr. Errabelli Dayakar Rao Hon'ble Minister for Panchayat Raj & Rural Development and RWS, Mr. Etela Rajendra Hon'ble Minister for Medical & Health and Family Welfare, Smt. Satyavathi Rathod Hon'ble Minister for ST Welfare, Women & Child Welfare and Mr. Dasyam Vinay Bhasker Chief Whip, TSLA, Mr. Banda Prakash Hon'ble Member of Parliament, Mr. Pasunuri Dayakar Hon'ble Member of Parliament, Mr. Gunda Prakash Rao, Mayor, Mr. Bodakunti Venkateswarlu, MLC, Mr. Pochampally Srinivas Reddy, MLC, Mr. Aroori Ramesh, MLA, Mr. EV Narasimha Reddy Vice Chairman & MD, TSIIC Ltd., Mr. BVR Mohan Reddy, Founder and Executive Chairman, Cyient and Mr. Krishna Bodanapu, Managing Director & CEO, Cyient with other senior officials of the company and dignitaries were present at the occasion.

With this launch, the historic city of Warangal gets the largest Development Center, paving the way for development of commercial and business infrastructure and attracting IT and other investments.

While inaugurating the campus Mr. K. T. Rama Rao, Hon'ble Minister for IT, Municipal Administration & Urban Development, Industries, and Commerce, Government of Telangana said, "It is a momentous occasion for us that Cyient has set up this state-of-the-art campus that will benefit the talent pool of Warangal. It sends out a signal that Warangal is ready to partner with companies like Cyient to support their engagements with customers around the world. We thank Cyient for placing Warangal on the technology map."

Commenting on the occasion Mr. BVR Mohan Reddy, Founder and Executive Chairman, Cyient said, "As a prime mover in Warangal, it is a proud moment for Cyient to inaugurate Warangal's largest development center and pqrtner in the growth story of this culturally rich city. The talent pool of Warangal will now have access to work opportunities with large, global customers. The addition of this center to Cyient's global operations will help spur the growth of its Communication business."

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.

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 5G 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.417.7 as compared to the previous close of Rs. 425.8. The total number of shares traded during the day was 3722 in over 397 trades.

The stock hit an intraday high of Rs. 429.85 and intraday low of 417.05. The net turnover during the day was Rs. 1570420.


Source: Equity Bulls

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