Will work to create advanced chip design facility in TN: Zoho's Sridhar Vembu

Prameyanews English

Published By : Prameya News Bureau | March 22, 2024 IST

Zoho

New Delhi, March 22: Responding to the post of Ananthan Ayyasamy, a BJP leader from Tamil Nadu's (TN) Tenkasi, Zoho founder and CEO Sridhar Vembu on Friday said that they "will work together to create advanced chip design facility in this rural region".

Ayyasamy, former Engineering Director at Intel and the Convenor of TN's Start-up Cell has shared a post on the social media platform X, saying that under the leadership of Prime Minister Narendra Modi and TN BJP state president K. Annamalai "I will work wholeheartedly to ensure the success of our alliance in Tenkasi".

"I will also continue to work hard to bring technology-driven prosperity to our region," he added.

Responding to this, Vembu said, "I know how hard Ananthan has worked for Tenkasi. Great to see his grace and humility, along with his discipline and loyalty to his cause".

"We have been planning a semiconductor design project in Tenkasi. Ananthan's expertise in this field is unrivalled," he added.

Last year, Zoho announced plans to open new hub offices in Tirunelveli and Madurai districts in Tamil Nadu and one in Uttar Pradesh.

Meanwhile, Zoho has reported consolidated revenue of Rs 8,703 crore in the financial year 2023 (FY23), up nearly 30 per cent (year-on-year).

The Vembu-led Zoho's consolidated net profit was at Rs 2,836 crore, which increased marginally by 3 per cent (year-on-year) due to an increase in expenses, according to its consolidated financial statements with the Registrar of Companies (RoC).

(IANS)

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