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    INFY   INE009A01021

INFOSYS LIMITED

(INFY)
  Report
Delayed NSE India Stock Exchange  -  06:25 2022-12-08 am EST
1620.15 INR   +0.91%
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Infosys Digital Centre Opens in Calgary with Commitment to Creating 1,000 New Local Jobs by 2024

09/28/2022 | 04:05am EST

Growth in Calgary to support broader expansion of Infosys' Canadian workforce to 8,000 employees within the next two years.

Infosys (NSE, BSE, NYSE: INFY), a global leader in next-generation digital services and consulting, today inaugurated the Infosys Digital Centre in Calgary, Alberta, Canada. Infosys also announced it would bring 1,000 jobs to Calgary over the next two years, doubling its original commitment from when the company first expanded into the region in 2021. This will support the company's growth across Canada as it also plans to double its total workforce commitment in the country to 8,000 employees by 2024.

'Today is the beginning of our next chapter in Canada as we open the Infosys Digital Centre in Calgary,' said Ravi Kumar, President, Infosys. 'We chose to open in Calgary because it is a center of tech excellence with rich IT talent and a strategic location that enables us to scale work with clients across key industries, such as energy, natural resources and agriculture. Calgary's IT innovation potential is unlimited, and we are delighted to be a part of its future.'

The Calgary Centre, located in Gulf Canada Square in the city's downtown commercial district, will help Infosys work more closely with clients in the region to develop cross-industry solutions to pressing business challenges in such areas as intelligent automation, green technology, user experience and advanced digital technologies, including big data and cloud. The Centre will train, upskill and reskill Infosys and client employees in the technologies required to help Canadian businesses accelerate their digital transformation.

'Infosys' choice to establish Calgary as a major technology centre is a big moment for our city and further demonstrates our city as a prime destination for the world's leading technology companies,' said Calgary Mayor Jyoti Gondek. 'Building a thriving innovation ecosystem takes a village, and Infosys will play a key role in our growth. In particular, Infosys' partnerships with local universities to train Calgary students and create job opportunities will help propel us forward.'

'It has been just a year since Infosys announced that it would continue to grow in our region and bring 500 skilled jobs to Calgary, and they have already delivered on that commitment,' said Alberta Premier Jason Kenney. 'I'm very pleased they are doubling that promise to bring a total of 1,000 jobs to this region. Thanks to Alberta's Recovery Plan and our government's relentless pursuit of economic growth, Alberta's economy is more diverse than ever before, attracting new investments, and creating new jobs in exciting new sectors.'

'This is an exciting day for Alberta. Infosys could have chosen any place in Canada for this new Digital Centre, but they selected Calgary to tap into our pool of tech talent and to form partnerships with our educational institutions. Infosys will be training the next generation of technology innovators and business leaders right here in our province,' said Tanya Fir, Minister of Jobs, Economy and Innovation, Government of Alberta.

Infosys' collaborative relationships with academic institutions in the province, including the University of Alberta, will provide recent graduates and experienced professionals with exposure to the latest training, research and career mentorship. Infosys' academic collaboration augment the company's dedicated learning facilities within the Centre, which will deliver continuous learning across the employee lifecycle.

'The opening of the Infosys Digital Centre in the heart of our city shows that Calgary is recognized as a top tech location where bright minds and big ideas come together from around the world to help solve global challenges and make the extraordinary happen,' said Brad Parry, President and CEO, Calgary Economic Development.

Infosys has recently been certified as a Great Place to Work in Canada for 2022. The certification emphasizes Infosys' strategic commitment to its localization strategy in Canada. The certification also highlights Infosys' efforts to power digitalization in Canada by doubling its Canadian workforce and shrinking the IT skills gap in the country through sustained investments in training.

For more information, please visit: Infosys - Powering Digital Canada.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. Over 300,000 of our people work to amplify human potential and create the next opportunity for people, businesses, and communities. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer clients, in more than 50 countries, as they navigate their digital transformation powered by the cloud. We enable them with an AI-powered core, empower the business with agile digital at scale and drive continuous improvement with always-on learning through the transfer of digital skills, expertise, and ideas from our innovation ecosystem. We are deeply committed to being a well-governed, environmentally sustainable organization where diverse talent thrives in an inclusive workplace.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

(C) 2022 Electronic News Publishing, source ENP Newswire

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Financials
Sales 2023 1 470 B 17 859 M 17 859 M
Net income 2023 245 B 2 974 M 2 974 M
Net cash 2023 283 B 3 437 M 3 437 M
P/E ratio 2023 27,9x
Yield 2023 2,42%
Capitalization 6 793 B 82 521 M 82 521 M
EV / Sales 2023 4,43x
EV / Sales 2024 3,95x
Nbr of Employees 345 218
Free-Float 84,6%
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Mean consensus BUY
Number of Analysts 39
Last Close Price 1 620,15 INR
Average target price 1 723,28 INR
Spread / Average Target 6,37%
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Managers and Directors
Salil S. Parekh Chief Executive Officer, MD & Executive Director
Mohit Joshi President
Nilanjan Roy Chief Financial Officer
Nandan M. Nilekani Non-Executive Chairman
Anand Swaminathan Executive VP-Communications, Media & Technology
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