TCS sets up 1000-seater unit in Singapore to focus on banking and financial services space

NEW DELHI: Country's largest software services firm Tata Consultancy Services ( TCS) today said it has set up a new 1,000-seater centre in Singapore to focus on clients in banking and financial services space.

TCS Singapore Banking and Financial Services (BFS) Centre will provide a range of application development, digital and IT services to global banks in the Asia Pacific region, TCS said in a statement.

Globally, over 40 per cent of TCS' revenue comes from the BFS sector.

In 2013-14, the Mumbai-based firm had posted revenue of Rs 64,672.93 crore. For October-December quarter of 2014-15, it stood at Rs 18,936.35 crore.

TCS' BFS business has grown substantially in Singapore and the new centre replaces a 500-seater centre opened in 2011. The centre will now offer a broader range of services, with a major focus on digital offerings.

"TCS has a long history in Singapore, with operations spanning nearly 30 years, during which we have seen a growing shift of our global BFS clients moving core elements of their operations to Singapore," TCS Asia Pacific (APAC) President Girish Ramachandran said.

Singapore is TCS' regional headquarters for APAC operations. TCS shares closed at Rs 2,580.90 apiece, up 0.61 per cent from previous close on BSE.