Defying Covid Technopark Clocks Growth in Software Exports

THIRUVANANTHAPURAM:
Despite adverse market conditions due to the Covid-19 pandemic, Technopark Thiruvananthapuram has performed remarkably well in software exports during the year 2020-21.

As per the latest figures available, the export revenue of the IT park grew by 7.7 per cent and touched Rs 8,501 Cr during the fiscal. It was Rs 7,890 Cr in FY 2019-20. During the period, Technopark has also made great strides in infrastructure development. The available IT space has crossed the milestone of 10 million square feet. There was also an increase in the number of companies and employees arriving at the park. Currently, Technopark has 460 companies and 63,000 employees.

Commenting on the achievement, CEO of Kerala IT Parks, John M Thomas said: “The growth in software exports shows the strength and resilience of our IT companies even in adverse market conditions. The government’s support for the IT sector and policies during the period has been helped the smaller companies to keep their operations unaffected by the pandemic. With the ongoing campus modernisation efforts at Technopark and completion of big ongoing infrastructure development projects, we are expecting higher export growth both by enabling organic growth of existing firms and by attracting new global corporations.”

In recognition of its excellent financial stability, CRISIL had upgraded Technopark’s credit rating to A Plus / Stable earlier this year. This was the highest credit rating achieved by the park during the past 10 years. The park’s financial health remained robust despite the offering of transitory relief to companies for rent payment and forgoing rental escalations for the fiscal due to Covid-19.