IT services company Hexaware Technologies has opened a new TechFin Centre at GIFT City in Gandhinagar, Gujarat, strengthening its presence in the banking, financial services, and insurance (BFSI) sector.
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The company currently has around 250 employees at the facility and plans to increase the workforce to 1,000 over the next three years.
The new office has a seating capacity of 400 employees and covers approximately 2,500 square metres. According to Vikash Kumar Jain, Chief Financial Officer of Hexaware, the company sees the new centre as an important step in its long-term growth plans.
Focus on Global BFSI Clients
The GIFT City centre will support Hexaware’s global BFSI clients, particularly in the United States and Europe, which together contribute a major share of the company’s business. The facility will deliver services across software engineering, cloud transformation, data engineering, and AI-led transformation projects.
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Speaking at the inauguration, Jain said the company’s immediate focus is to build a strong delivery hub for international clients. He added that the work carried out from the centre will be entirely technology-driven, supporting banking, financial services, and insurance organizations.
The facility was inaugurated by Gujarat Chief Minister Bhupendra Patel. The launch also marks another milestone in Hexaware’s journey in Gujarat, where the company has maintained operations for nearly 11 years.
Hiring Plans and Expansion Roadmap
Hexaware’s plan to reach 1,000 employees is part of a phased expansion strategy. Earlier reports had indicated that the company, in its application to the International Financial Services Centres Authority (IFSCA), had proposed creating around 2,000 jobs and occupying nearly 4,925 square metres of office space in GIFT City.
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Responding to questions about whether hiring plans had been reduced, Jain said the current expansion should be viewed as the first phase of growth. The company intends to continue adding employees as business requirements increase.
Why GIFT City?
According to Hexaware, GIFT City offers several advantages for long-term operations. While salary levels are comparable to major technology hubs such as Bengaluru, Chennai, Mumbai, Pune, and Hyderabad, the cost of living and daily commute are generally lower.
Jain also highlighted lower employee attrition rates in Ahmedabad and GIFT City compared to many Tier-I cities. He noted that retaining talent for longer periods helps organizations reduce recruitment and training costs over time.
Hexaware currently earns nearly 70 percent of its revenue from the US, around 20 percent from Europe and the UK, and about 6 percent from Asia-Pacific and the Middle East. India contributes approximately 2 percent of the company’s global revenue, making international markets the primary focus of its operations.
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