Zoho’s Sridhar Vembu Plans to Establish Advanced Chip Design Facility in Tenkasi, Tamil Nadu
New Delhi, March 22 (IANS) 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, expressed his enthusiasm to ensure the success of their alliance in Tenkasi under the leadership of Prime Minister Narendra Modi and TN BJP state president K. Annamalai.
Vembu acknowledged Ananthan’s dedication to Tenkasi and praised his commitment to the cause. Zoho had been planning a semiconductor design project in Tenkasi, and Vembu recognized Ananthan’s expertise in the field. Last year, Zoho announced plans to establish new hub offices in Tirunelveli and Madurai districts in Tamil Nadu and one in Uttar Pradesh.
Zoho’s consolidated revenue for the financial year 2023 (FY23) stood at Rs 8,703 crore, marking a 30% increase year-on-year. The consolidated net profit was reported at Rs 2,836 crore, with a marginal 3% increase year-on-year due to rising expenses, as per the company’s financial statements filed with the Registrar of Companies (RoC). The collaboration between Ayyasamy and Zoho signals a strategic move towards technological advancement and economic growth in the region.
