Now Reading: Nasdaq-listed Octave opens 2 lakh sq ft tech centre in Hyderabad
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Nasdaq-listed Octave opens 2 lakh sq ft tech centre in Hyderabad
Nasdaq-listed Octave Intelligence plc opened a 2 lakh sq ft global technology and innovation centre in Hyderabad on Wednesday. The facility, inaugurated by Telangana IT Minister D. Sridhar Babu and CEO Mattias…
Nasdaq-listed Octave Intelligence plc opened a 2 lakh sq ft global technology and innovation centre in Hyderabad on Wednesday. The facility, inaugurated by Telangana IT Minister D. Sridhar Babu and CEO Mattias Stenberg, starts with 1,600 employees and targets 2,000 in coming years.
The centre will focus on software engineering, AI, data, cloud and product development, serving industries that require real-time intelligence for complex assets. Octave said Hyderabad offers exceptional talent depth for its next growth phase.
The company was formed in 2025 after a spin-off of Hexagon AB's divisions and employs about 7,200 people across 45 countries. Minister Sridhar Babu said Telangana welcomed 75 new GCCs last year and aims to add 100 more in the coming year.
Indian Opinion Analysis
Hyderabad is now home to over 1,000 GCCs, a figure that has doubled in five years. Telangana's 2025 GCC policy offers a 10-year tax rebate and subsidised land for firms setting up such centres, a framework that Octave directly benefits from. The bigger picture is a shift from back-office outsourcing to high-end R&D here: Octave's centre joins rivals such as Honeywell and Microsoft in building AI and product-technology teams in the city. The state government's target of 100 more GCCs by 2027 will hinge on sustaining the engineering pipeline, IIIT Hyderabad alone graduates over 500 computer-science students annually. Octave's plan to grow from 1,600 to 2,000 employees in two years is modest compared to some peers, but its real-world asset intelligence focus gives Hyderabad a niche beyond fintech.
Source: thehindu.com
This brief was synthesised by AI from the source linked above.
