The worldâ€™s fifth largest asset management company Franklin Templeton is planning to set up the worldâ€™s largest single location campus — Franklin Templeton Park — in Hyderabad, a city in India reputed for IT and ITeS. The company currently has a center employing about 1,100 professionals handling various in-house projects including operational and technological processes.
The company is implementing the project in phases on 15 acres at â€˜gachi-bowliâ€™ in Hyderabad. The $40 million first phase would have a built up space of about 380,000 sq ft to seat about 1,800 employees. The second phase of the campus, which is expected to be up and running by March 2008, will have an additional space of about 229,000 sq ft to house 1,000 employees.
With this, the Hyderabad campus will be largest single location globally in the next few months. The operation already accounts for 14% of the companyâ€™s headcount. The company has around 8,000 employees globally, and with the new campus, more than 20% of the companyâ€™s total headcount will be based out of India. The other two centers Chennai and Mumbai employ around 100 and 30 respectively.
Franklin Templeton International services spokesperson said they are not planning any more campuses in the country but has the ability to do a third phase for the campus in Hyderabad.
The Hyderabad campus will act primarily as a support center for Franklin Templetonâ€™s services company. Franklin Templeton International Services (India) Private Ltd., (FTISPL) which is based in Hyderabad, and its operations and technology groups in its offices worldwide.
The Hyderabad campus will primarily focus on off shoring efforts. Gradually the asset management operations will be shifted to the campus The Company has over Rs 23,400 crore in assets under management and over 1 million investor accounts.
The company with over $55.2 billion assets under management and over 17 million investor accounts worldwide has a 7.2% market share in India and ranks third in equity assets worldwide. It has a presence in over 29 countries with over 50 offices. In India, the company has over 2 million shareholders and has 33 sales and services offices. India ranks fourth in the companyâ€™s global distribution of assets, with Canada, Germany and Taiwan topping the list.