THIRUVANANTHAPURAM : Despite adverse market conditions caused by the pandemic, Technopark here 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 crore during the fiscal year.
It was Rs 7,890 crore in the 2019-20 financial year. During the period, Technopark has also made great strides in infrastructure development.
The IT space has been expanded to over 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 helped smaller companies to sail through 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.