India’s Mphasis, the country’s seventh largest IT/BPO company, will launch its first major international operations in Sri Lanka in May, bringing more than 2000 new jobs to the country’s IT sector.

To underscore the importance of the event, the company featured the chairman of the Board of Investment (BOI) of Sri Lanka Dhammika Perera in its latest annual report.
“Mphasis came, saw and established its foot print in Sri Lanka in record time,” Perera said in the annual report. “Working closely with the BOI within three months of its first communication, Mphasis announced its decision to start operations in Sri Lanka on the 9th December 2009.”

The Mphasis Group, which became a subsidiary of Hewlett-Packard in August 2008, has benefited from the tie-up through greater access to international markets and through HP’s strong governance process, according to the annual report. The company’s share price quadrupled last year, making it one of the best performing IT stocks in India.

Highlights of the company’s performance during 2009 include a 43.2 percent increase in revenues, 121.2 percent increase in net profit, the doubling of earnings per share and a declared dividend of 35 percent.

Mphasis which will be located at the Orion City IT Park in Dematagoda – on the eastern edge of Colombo – will be one of the largest IT/BPO operations in Sri Lanka.

According to the BOI, it has identified the knowledge-based sector as a prime growth area for Sri Lanka that can complement and benefit from the explosive growth of the sector in India.

In the CEO’s message to shareholders, Mphasis head Ganesh Ayyar highlighted the expansion to Sri Lanka as an example of its emerging global talent foot print. During his visit to Sri Lanka Ayyar met with Minister of Enterprise Development & Investment Promotion Anura Priyadarshana Yapa who emphasized the government’s commitment to develop the IT/BPO/KPO sector.

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