Infosys Lands Truist GCC Mandate
The $500 million-plus deal will see Infosys build and run a 4,500-seat Hyderabad hub for the US lender before handing it over after five years.
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[Image source: Chetan Jha/MITSMR India]
Infosys Ltd has won a contract worth more than $500 million from Truist Financial to set up and run a global capability center (GCC) in Hyderabad, Mint reported, citing two people with knowledge of the matter in what is expected to be one of the largest built-operate-transfer engagements handled by an Indian IT services company.
The Hyderabad center is expected to employ at least 4,500 people, with Infosys planning to hire about 2,000 employees, including senior managers, in the first year, the report said.
The North Carolina-based lender awarded the contract in March, and work is expected to begin in the coming months, according to the report.
Infosys will operate the center for five years before transferring it to Truist under a build-operate-transfer model.
The hub will handle technology work as well as business functions such as sales, finance and human resources.
Based on the contract size, Infosys is expected to generate at least $100 million in annual revenue from the arrangement, adding about 0.5% to its revenue in the current fiscal year, Mint reported.
The deal comes as global companies expand captive capability centers in India to keep greater control over technology and operational functions while using IT services firms to set up and manage those hubs. Because apparently even captive centers now need outsourced midwives.
India has more than 1,760 GCCs, including 355 in Hyderabad, according to Nasscom estimates cited by Mint. The number is projected to rise to 2,200 by March 2030.
