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US-based banking technology firm Candescent has expanded its India operations by opening a 30,000 sq ft technology centre in Hyderabad with a seating capacity of 300, as part of its ongoing workforce and capability expansion. The company, which has offices in Mumbai and Bengaluru, has hired around 400 employees over the past year and plans further recruitment across senior and mid-level roles. India now accounts for nearly half of Candescent's 2,000-strong global workforce and serves as a key hub for engineering, product development, and AI initiatives. While its client base remains largely in the United States, the India operations are focused on talent, technology development, and supporting global delivery capabilities.
Candescent, a US-based banking technology firm, has expanded its presence in India with the launch of a new technology centre in Hyderabad, adding approximately 30,000 sq ft of office space with a seating capacity of around 300 employees, as part of its ongoing investment in talent and technology capabilities. Advertisement
The development, announced in the past week, marks the company's second facility in Hyderabad and forms part of a broader expansion strategy that includes scaling its workforce and strengthening its engineering and product development operations in India. The company currently operates in multiple Indian cities, including Mumbai and Bengaluru, positioning the country as a key delivery and capability centre.
According to company officials, Candescent has hired around 400 employees in India over the past year and is continuing to recruit across various levels. The firm is expanding its talent base to include senior leadership roles, including vice presidents overseeing end-to-end functions, alongside mid-level and specialist positions in engineering and product management.
John Garvey, chief operating officer of Candescent, indicated that the expansion reflects the company's long-term commitment to India as a strategic hub for technology development. He stated that a significant portion of the company's engineering and product-related work is now led from India, including artificial intelligence engineering, money movement platforms, and core product development functions.
India accounts for nearly half of Candescent's global workforce of approximately 2,000 employees, underscoring its importance within the company's operational structure. Garvey noted that while the firm's client base remains largely concentrated in the United States, India serves as a critical source of talent and technical capability rather than a direct market for its products.
Raghav Pavaman, general manager and senior vice president for India operations, stated that the company's total seating capacity in Hyderabad has reached around 530, including the newly added 300 seats. He added that the company is currently hiring for approximately 130 positions across roles ranging from directors and managers to individual contributors.
The recruitment focus includes product managers and product owners, particularly those with experience in financial services, although the company is also evaluating candidates based on broader technological expertise and capabilities, including proficiency in programming languages such as Java.
The expansion aligns with a broader trend of global technology firms increasing their presence in India to leverage the country's talent pool for engineering, product development, and digital transformation initiatives. With its latest facility, Candescent is further consolidating its India operations as a central hub supporting its global business functions.
Source - PTI
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