In what would prove to be the cornerstone of the IT boom in the city in the years to come, following approval of the chief minister, Infosys announced that they would be setting up a software development center in Kolkata, West Bengal. Reported by NDTV, Infosys said that they would be making an initial investment of Rs.100 crore and would begin the construction of the 5,25,000 square feet software development center. The software giant said that they are delighted with the project being given a green signal, which was only possible with the support of the West Bengal Chief Minister, Mamata Banerjee.
As per the statement of Infosys, the software development center will be built across 50 acres and will initially offer jobs to 1,000 employees. Infosys expects the project to reach completion within 15 months. Reporting a net profit of Rs.3,612 crore for Q1 of FY 2018-2019, with a steady growth of 6%-8%, Infosys reported a year-round profit of Rs.16,029 for FY 2017-2018. Prior to their plans of constructing a software development center in Kolkata, Infosys had kickstarted a similar project in Noida, Uttar Pradesh with an initial investment of Rs.750 crore.