In Annual Report:

MphasiS highlights expansion in Lanka

India's fastest growing IT/BPO company, which is setting up a major investment in Sri Lanka has highlighted the venture in its latest annual report.

In its Annual Report for 2009, MphasiS has featured a quotation by BOI Chairman/Director General Dhammika Perera prominently, referring to the speed with which the BOI and MphasiS worked together to set up operations in the island.

"MphasiS came, saw and established its foot print in Sri Lanka in record time. Working closely with the BOI within three months of its first communication, MphasiS announced its decision to start operations in Sri Lanka on December 9, 2009", Perera is quoted in the Annual Report.

This is the first major international launch for the seventh largest Indian IT/BPO company which is considered one of the most innovative and dynamic software companies in India.

The company's share price has quadrupled last year making it one of the best performing IT stocks in India.

In the CEO's message to shareholders, MphasiS head Ganesh Ayyar has highlighted the expansion to Sri Lanka as an example of its emerging global talent foot print.

The declaration of 2009 as the Presidential year of IT and English by the President played a key role in MphasiS's decision to commit a major expansion in Sri Lanka.

The BOI team worked expeditiously to establish the MphasiS investment in Sri Lanka. One of the highlights of the collaboration was the setting up of proactive strategic partnership with key educational institutes such as Sri Lanka Institute of Information Technology (SLIIT) to ensure the ambitious employment requirements of the company are met.

MphasiS which will start its operations in May at Orion City IT Park in Dematagoda, will be one of the largest IT/BPO operations in Sri Lanka, eventually employing more than 2000.

The BOI has identified the knowledge- based sector (IT/BPO/KPO and Education) as a prime growth area for Sri Lanka that can complement and benefit from the explosive growth of the sector in India.