Comviva to hire 600 engineers by July 2022 and plans 10% to 12% growth in business

Tech Mahindra group company Comviva plans to hire around 600 engineers by July 2022, to meet growth needs and offset the impact of attrition, a senior company official said.

The company is now focusing on Tier 2 cities and is now expanding the Bhubaneswar center, which was opened 3 years ago, as part of its new strategy, Comviva CEO Manoranjan Mohapatra told PTI in an interview.

“We are a team of around 2,000 members. We are talking about adding 600 people per year. About 300 would be freshmen on campus and another 200 to 300 would be hires in the market,” he said. he declares.

The company has seen its attrition rates rise to around 20-23% in recent quarters, compared to 15-16% in the past.

Mohapatra said the company plans to finish hiring around 600 people by July 2022 and continue hiring to strengthen the team in Bhubaneswar.

“There are currently less than 20 people in Bhubaneswar, but this year’s plans are being finalized. We have started recruiting and expect it to end by March 31, 2022.

“In the current fiscal year, there would be around 60 to 70 people there, but in about two years the center will have 200 to 300 people. It will depend on how easily it will be possible to recruit talent, ”he said.

Speaking about revenue growth, he said the company expects 10-12% growth in the current fiscal year. Comviva had recorded revenue of Rs 845.1 crore in fiscal year 2021.

The main focus of Comviva remains to provide IT solutions for applications and technologies based on mobile devices.

The company plans to establish a center of excellence for mobile devices in Bhubaneswar.

“We’ll be doing all of our mobile payments, the super app, the merchant app, the consumer app, the self-management app, whatever we do with the apps over the next 18 to 24 months. Bhubaneswar will be known as the center of excellence for mobile applications, ”said Mohapatra.

He said the company’s next-generation business would be all around mobile devices, including writing software for wearable devices that will enable payment transactions from smartwatches.

“You can make a merchant payment or transfer money to your family from your watch itself. You don’t have to go to your laptop or phone. This is an area we have chosen for Bhubaneswar and the second area – mobile money, digital banking – growth is expected to be significant.

“We have decided to make it the second area of ​​competence in Bhubaneswar as well,” said Mohapatra.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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