The Hyderabad-based firm said its total revenues shot up 21 percent to 5.7 billion rupees for the three months to June.

It projected income from software exports for the second quarter to be about 5.6 billion rupees.

Satyam, which has a presence in 45 countries, said that during the first quarter it had hired 806 software professionals and 833 support staff, including human resource and finance department personnel.

Satyam chairman B. Ramalinga Raju said international funds would soon invest 20 million dollars in Nipuna Services Ltd., Satyams business process outsourcing subsidiary.

"An agreement to this effect has been signed between these funds ... The transaction is expected to be concluded in the next few weeks," he said.

Nipuna, which currently employs 164 people and has five customers, was set up in June 2002 to provide outsourcing services with a four million dollar commitment from the parent company Satyam.

"The investments will allow Nipuna to access the global relationship network of the new investors," Raju said, without disclosing the identities of the investors.

Satyam development centers in India, the United States, Europe, Japan and Singapore serve 290 global companies, including 60 Fortune 500 corporations.

SPACE.WIRE