Hyderabad: Forsys opens Rs 17 crores worth new office, creates employment

Hyderabad: Forsys Inc, a California-based IT company, offering end-to-end technology consulting and services, opened its new 21,000 ft office in Phoenix Aquila, Tower B, Financial District, Nanakramguda. The facility is set up with an investment of US $2 million (Rs 17 crores) with a seating capacity of 400 resources.

D Sridhar Babu, minister of IT and Jennifer Larson, consular general, US Consulate General, Hyderabad, inaugurated the new facility on Friday.

Speaking on the occasion, JP Vejendla, founder of Forsys said that by the year 2026, the company will double its headcount by adding another 450 to 500 employees. In the next three years, it plans to invest up to $10 million in local operations.

Addressing the people present, minister Sridhar Babu said the Telangana government is committed to attracting investments to create employment opportunities. He suggested that private firms and government must come together and work on collaborative endeavours for the social and economic development of the region.

Jennifer Larson said India and the USA have developed into a strong bilateral friendship based on shared democratic values.

Srinivasa Raju, chairman of iLabs Group, said that he spent his early career in IT before moving into investments. “You know Vejendla just as a founder of Forsys but he is a serial entrepreneur with several credentials and a name to reckon with in the IT industry in Silicon Valley and a founder of many successful companies. Knowing him well, I may not be surprised if he turns this into another billion-dollar company very soon,” he said.

Forsys provides lead-to-revenue services specialising in sectors like high-tech, manufacturing, healthcare, retail, and BFSI with all-inclusive cloud-based solutions. It has strategic partnerships with Salesforce, Conga, Oracle, and NetSuite. It has a global reach serving 100 customers. Currently, it has a team of 200 professionals.