Infosys Indias second-largest IT services firm led by its co-founder and promoter billionaire Narayana Murthy is set to expand its IT campus at Pocharam in Hyderabad which is expected to create 17000 new jobs in the IT sector in the Telangana capital. As per an official release issued on Thursday the announcement was made at the World Economic Forum in Davos following a meeting between Infosys CFO Jayesh Sanghrajka and Telangana IT and Industries Minister D Sridhar Babu. The expansion plans will create additional 17000 jobs in the Pocharam Campus where Infosys already employs over 35000 jobs making it one of their largest in the country. Construction of new IT buildings in phase 1 with investment of Rs 750 crores will be completed in the next 2-3 years that will accommodate 10000 people the release said. The collaboration highlights the Telangana governments proactive approach to supporting industry leaders and encouraging sustainable growth in the technology sector it added. Speaking on the expansion of the Infosys IT campus at Pocharam CFO Jayesh Sanghrajka said the companys partnership with the Government of Telangana reflects our shared vision of driving innovation empowering communities and strengthening the IT landscape. “These new centres will contribute significantly to the state’s thriving IT ecosystem and further enhance Telangana’s status as a leading IT destination in the country according to an official statement by Telanganas IT ministry adding that the state government is focused on developing talent generating opportunities and building alliances to drive economic growth Sridhar Babu said the Telangana government remains dedicated to nurturing talent creating opportunities and fostering strategic alliances to propel the states economy forward. Narayana Murthy family lose Rs 1850 crore Meanwhile in related news Infosys co-founder Narayana Murthy and his family suffered a major financial setback last week as their fortune dwindled by a whopping Rs 1850 crore due to a nearly 6 percent drop in Infosys shares. Five members of the Narayana Murthy family owned a 4.02 percent stake in Infosys which was worth Rs 32152 crore but plunged to Rs 30300 crore a decline of Rs 1850 crore after Infosys stock plunged by nearly 6 percent as per market data.